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Bitcoin price hits a new high, breaking through $90,000, with a 24-hour increase of 10.79%, but this is not the end! Supported by the inflow of ETF funds, the cyclical upward trend, and the moderate correction, the changes in the global M2 money supply may also affect Bitcoin, especially in the context of enhanced hedging properties. If the Trump administration takes office, the relaxation of regulations will drive traditional financial institutions to increase their investment, which will accelerate the maturity of crypto assets, and Bitcoin may break new highs multiple times in the next 12-18 months.
ETF trading volume continues to hit new highs
Since the election, the inflow of funds into spot crypto ETFs has continued to rise. As Bitcoin surged above $88,000 for the first time, BlackRock's spot Bitcoin ETF also set a new daily trading volume record, with Bloomberg data showing that BlackRock's spot Bitcoin ETF had a daily trading volume of $4.5 billion.
Key Altcoin Analysis
PEPE
PEPE is one of the more popular MEME coins this year, and for investors who love the MEME coin concept, PEPE is still a good choice. PEPE has just experienced a round of upward movement, and based on the current trend, it has the hope of breaking through its previous high again. Although the price fluctuation of PEPE is relatively large, its performance in the bull market will not be too bad. If you already hold it, just keep an eye on the subsequent trend.
ORDI
ORDI is an Altcoin in the Bitcoin ecosystem. As Bitcoin price broke through $80,000, Altcoins related to the Bitcoin ecosystem have attracted attention. Currently, ORDI's market cap is stable at around $680 million, with a latest price of about $45. It is expected that its price may surge to $105 within November, with a relatively impressive growth rate. For investors who are optimistic about the Bitcoin ecosystem, they can pay attention to the trend of ORDI, which may have a large upside potential.
NEIRO
NEIRO has performed strongly recently, with an increase of about 94% over the past four days, setting a new high almost every day. The price reached $0.0028 at one point during the day, and this steady upward trend has attracted the attention of many investors. In the MEME coin sector, the bullish sentiment on NEIRO has been strong recently, and it is expected to continue to rise in the following days.
WIF
WIF is a meme cryptocurrency based on Solana, which has also achieved amazing growth in a very short period of time. The asset has risen 20.4% on the daily chart, 46.8% on the weekly chart, and 27.6% on the 14-day chart, up 11% from last month. WIF is currently down about 38% from its all-time high of $4.83. According to CoinCodex analysts, this memecoin may set a new all-time high of $9.57 on December 9, 2024.
Doge
The current price of Dogecoin is $0.4056, up 19.16% in the past 24 hours. Investor sentiment on Dogecoin remains bullish, with the "Greed" level of the Fear & Greed Index at 69. Over the past year, Dogecoin has appreciated 249%, outperforming 79% of the top 100 cryptocurrencies, including major assets like Bitcoin and Ethereum.
It is worth noting that Dogecoin's trading price is 120.12% higher than its 200-day simple moving average of $0.126129. Dogecoin has also had 19 up days in the past 30 days, or 63%, indicating sustained investor interest. These factors suggest that Dogecoin is in a strong position and may support its further growth and participation in the broader digital asset market.
