{"id":18463,"date":"2024-11-11T10:34:23","date_gmt":"2024-11-11T08:34:23","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-surpasses-84000-sparking-concerns-of-a-sell-off\/"},"modified":"2024-11-11T10:34:23","modified_gmt":"2024-11-11T08:34:23","slug":"bitcoin-surpasses-84000-sparking-concerns-of-a-sell-off","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-surpasses-84000-sparking-concerns-of-a-sell-off\/","title":{"rendered":"Bitcoin Surpasses $84,000, Sparking Concerns of a Sell-Off"},"content":{"rendered":"<p>On the morning of Monday, November 11, the first cryptocurrency reached a new all-time high of $81,800.<\/p>\n<p>At the time of writing, Bitcoin is trading near $81,000.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1285.webp\" alt=\"1-1285\" class=\"wp-image-244881\"\/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data:\u00a0<a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\" target=\"_blank\" rel=\"noreferrer noopener\">TradingView<\/a>.<\/figcaption><\/figure>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">November 11, 2024 | 13:14<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Bitcoin briefly reached $82,000.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"911\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1287-1024x911.png\" alt=\"1-1287\" class=\"wp-image-244901\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1287-1024x911.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-1287-300x267.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-1287-768x683.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/1-1287.png 1243w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data:\u00a0<a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\" target=\"_blank\" rel=\"noreferrer noopener\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">November 11, 2024 | 18:39<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>The leading cryptocurrency broke through the $84,000 level.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"453\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-11-11_18-38-38-1024x453.png\" alt=\"BTCUSDT_2024-11-11_18-38-38\" class=\"wp-image-244943\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-11-11_18-38-38-1024x453.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-11-11_18-38-38-300x133.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-11-11_18-38-38-768x340.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-11-11_18-38-38.png 1355w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data:\u00a0<a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\" target=\"_blank\" rel=\"noreferrer noopener\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<p>Among the top 10 by market capitalization, there is mixed performance. Dogecoin stands out with a daily increase of 23.7%, while Ethereum and XRP show declines of 1.2% and 1.6%, respectively.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-934.webp\" alt=\"2-934\" class=\"wp-image-244882\"\/><figcaption class=\"wp-element-caption\">Data:\u00a0<a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>The total market capitalization of digital assets stands at $2.88 trillion. Bitcoin&#8217;s dominance index is 55.7%.<\/p>\n<p>According to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass<\/a>, the total volume of liquidated positions over the past day amounted to $648 million, with $282.5 million in shorts.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-524.webp\" alt=\"3-524\" class=\"wp-image-244883\"\/><figcaption class=\"wp-element-caption\">Liquidation map. Data: Coinglass.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\"><strong>Analysts&#8217; Concerns<\/strong><\/h2>\n<p>CryptoQuant CEO Ki Young Ju warned that Bitcoin might end the year slightly below $59,000, citing the derivatives market situation.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Just one day left. For me, it\u2019s $58,974. Hope I\u2019m wrong. <a href=\"https:\/\/t.co\/ALUa0nvlMT\">https:\/\/t.co\/ALUa0nvlMT<\/a><\/p>\n<p>\u2014 Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1855145553186938956?ref_src=twsrc%5Etfw\">November 9, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;I expected corrections due to the &#8216;overheating&#8217; of futures market indicators. [\u2026] If a pullback and consolidation occur, the bull run will continue. However, a strong year-end rally could set up 2025 for a bear market. [\u2026] I hope I&#8217;m wrong,&#8221;<\/em> the expert wrote.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I expected corrections as BTC futures market indicators overheated, but we&#8217;re entering price discovery, and the market is heating up even more. <\/p>\n<p>If correction and consolidation occur, the bull run may extend; however, a strong year-end rally could set up 2025 for a bear market,\u2026<\/p>\n<p>\u2014 Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1855546984343724253?ref_src=twsrc%5Etfw\">November 10, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/www.coinglass.com\/BitcoinOpenInterest\">Coinglass<\/a>, open interest in Bitcoin futures is approaching $50 billion.<\/p>\n<p>Ben Simpson, CEO of Collective Shift, told <a href=\"https:\/\/cointelegraph.com\/news\/cryptoquant-ceo-expects-pullback-58k-by-end-2024\">Cointelegraph<\/a> that a price pullback of the first cryptocurrency to $58,000 is &#8220;extremely unlikely.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Elections, the Federal Reserve&#8217;s rate cuts, the potential for future quantitative easing, and relatively stable days when inflows into spot Bitcoin ETFs reached a billion dollars are drawing more attention,&#8221;<\/em> he explained.<\/p>\n<\/blockquote>\n<p>The expert noted that in previous cycles, corrections of 20-30% were common, but the slow growth has been so &#8220;exciting&#8221; that the pullback has been only 5-6% so far.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The market structure looks very strong,&#8221; Simpson concluded.<\/p>\n<\/blockquote>\n<p>Earlier, Fundstrat co-founder Tom Lee predicted Bitcoin would reach $100,000 by the end of 2024.<\/p>\n<p>Bernstein expects digital gold to reach $80,000-90,000 amid Donald Trump&#8217;s victory.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the morning of Monday, November 11, the first cryptocurrency reached a new all-time high of $81,800. At the time of writing, Bitcoin is trading near $81,000. 15-minute BTC\/USDT chart on Binance. Data:\u00a0TradingView. November 11, 2024 | 13:14Update: Bitcoin briefly reached $82,000. 15-minute BTC\/USDT chart on Binance. Data:\u00a0TradingView. November 11, 2024 | 18:39Update: The leading [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18462,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1146,1145,1150],"class_list":["post-18463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-market-forecasts","tag-market-analysis","tag-news-plus"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18463"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18462"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}