Bitcoin (BTC) experienced a significant price surge, climbing to $91,594 after a $100 billion inflow into the market within 24 hours. This influx increased Bitcoin's total market capitalization from $1.73 trillion to $1.83 trillion. Trading volumes also rose by 21.71% to $72.9 billion, indicating heightened market activity following a period of corrective pressure.
The recent price recovery comes after a 30-day decline of 19.78%, with on-chain data revealing that whales accumulated 30,000 BTC, valued at $2.7 billion, over the past week. Investor sentiment has been buoyed by expectations of a dovish Federal Reserve and potential rate cuts in December. Bitcoin faces resistance at $98,852, with support around $87,000, as the market anticipates whether BTC can maintain its position above $91,000.
Bitcoin Rallies as $100 Billion Inflows Boost Market Cap
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