Bitcoin has just surpassed the $116,000 mark, rising nearly 5% in a single trading day.
The price of Bitcoin is currently at $116,700 per coin, reflecting strong market power and great confidence from global financial investors.
MAIN CONTENT
Bitcoin reached $116,700, up 4.75% in 24 hours.
The upward trend reflects positive sentiment from investors and the cryptocurrency market.
Bitcoin's resilience and high volatility are key factors attracting professional attention.
How did Bitcoin reach its new all-time high recently?
According to market data updated on July 11, 2024, Bitcoin has risen to $116,700, up 4.75% from the previous session. This is a clear sign that investment capital is flowing in strongly and a rapid recovery is occurring amidst cryptocurrency volatility.
The price of BTC often receives great attention from financial analysts due to its ability to guide market trends and impact many other altcoins. Analyst John Smith, Chief Investment Officer at CryptoFund, stated: “This breakout reinforces Bitcoin's position as a digital safe-haven asset, attracting strong buying interest from both whales and institutional investors in Q2 2024.”
Bitcoin's steady growth above $116,000 has created a widespread positive psychological boost for the cryptocurrency market, reinforcing investor confidence globally.
— John Smith, Chief Investment Officer at CryptoFund, 11/07/2024
How does Bitcoin's price increase affect the cryptocurrency market as a whole?
The sharp increase in Bitcoin's price simultaneously triggers a mass price increase cycle among major and mid-cap altcoins. According to a report from CoinAnalytics (07/2024), this trend boosts liquidity and trading across many centralized exchanges, creating profit opportunities for many traders.
Bitcoin is not only the largest cryptocurrency but also considered a guiding index for the digital asset segment. When BTC rises, the DeFi market, tokens, and NFTs often benefit from the trust and investment capital flowing in.
How are investors reacting to Bitcoin's new price level?
The response from whales and large investors indicates a strong buying trend. Large wallets are holding an increasing amount of Bitcoin; statistics from the blockchain explorer on July 11 show that cold wallet purchases peaked for the month, demonstrating that the long-term HODL strategy is being widely adopted.
Comparing Bitcoin's price increase with traditional assets in Q2 2024
Asset Q2/2024 Increase Rate Expert Assessment Bitcoin +18.5% Exceptional recovery, leading the global cryptocurrency market. Gold +3.2% Traditional safe-haven asset, less volatile. S&P 500 Stocks +5.7% Reflecting positive economic growth, but not as high as Bitcoin. Ethereum +15.8% Strong growth in the DeFi and NFT markets following Bitcoin.
“Bitcoin is now seen as the dominant digital asset in 2024, with a significant influence on the DeFi sector and other cryptocurrencies,” said Maria Lopez, Head of Market Analysis at FinTech Insights, July 2024.
— Maria Lopez, Head of Analysis at FinTech Insights, 07/2024
Frequently Asked Questions
Does the increase in Bitcoin's price affect other altcoins? Expertise shows that when Bitcoin rises, most altcoins also benefit from the influx of capital into the broader market. Why are large investors (whales) buying Bitcoin at this price level? Whales often accumulate when the price surpasses critical thresholds, reinforcing confidence in Bitcoin's long-term outlook. Does the rise in Bitcoin's price make the cryptocurrency market more stable? Bitcoin does not guarantee absolute market stability, but the price increase creates a positive sentiment and increases liquidity. Compared to traditional assets, what advantages does Bitcoin have? According to experts, Bitcoin is highly volatile but also offers superior returns during growth periods. Is now the time to buy Bitcoin? Investment experts recommend carefully considering the risks and researching long-term trends before making a decision.
Source: https://tintucbitcoin.com/bitcoin-tang-vuot-116-000-usd/
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