Bitcoin Surges to Record High of $81,000

On Sunday, November 10, the price of the leading cryptocurrency reached a new all-time high of $79,788.

November 10, 2024 | 14:59Update:

Bitcoin briefly touched $80,000.

November 10, 2024 | 22:46Update:

The leading cryptocurrency briefly surpassed $81,000.

At the time of writing, Bitcoin is trading at $78,900.

Following the leading cryptocurrency, other digital assets in the top 10 by market capitalization also continued to rise. Cardano (+32.1%) and Dogecoin (+10.4%) saw the largest gains over the day.

The total market capitalization of digital assets stands at $2.83 trillion. Bitcoin’s dominance index is 58.9%.

According to Coinglass, the total volume of liquidated positions over the day amounted to $385 million, with $280 million in shorts.

Early Bitcoin advocate Tuur Demeester urged investors to refrain from impulsive decisions.

$79k bitcoin, new ATH. Steady folks, this is just the beginning. This is a time for being right and sitting tight. No rash action is needed, HODLing does the work for you. pic.twitter.com/SWBCrQovOu

— Tuur Demeester (@TuurDemeester) November 10, 2024

“Bitcoin at $79,000, ATH. Attention, folks, this is just the beginning. This is a time to be right and sit tight. No need for hasty actions, HODL does the work for you,” he wrote.

Checkmate shared bullish sentiments. According to him, despite new highs for the leading cryptocurrency, the distance between the price and the 200 DMA is still “cooled off.”

Even with these fresh #Bitcoin ATHs, the distance between price and the 200DMA is still cooled off.

The Mayer Multiple Z-Score is only just above 0, meaning we’re near the long-term average (with plenty of room to run).

Love to see it. pic.twitter.com/vdj5IEAfO6

— _Checkmate ??⚡☢️?️ (@_Checkmatey_) November 10, 2024

“The Mayer Multiple Z-Score is only slightly above zero, meaning we are close to the long-term average (with plenty of room to grow). I love to see it,” he wrote.

On Wednesday, November 6, the price of the leading cryptocurrency reached a new all-time high of $75,000. The following day, digital gold held above $76,000 amid another rate cut by the Fed.

On November 9, Bitcoin once again broke its ATH above $77,000.

Previously, Fundstrat co-founder Tom Lee predicted that the leading cryptocurrency would rise above $100,000 by the end of 2024.