Bitcoin Hits $100K Marking New Milestone in Crypto History

• Bitcoin hit a new milestone of $100K in the last few hours causing quite a frenzy. 
• The crypto market saw increased liquidations since the price surge as per Coinglass data.

The crypto market has relented into mindblowing joy as Bitcoin, the largest cryptocurrency hits the most awaited milestone. The cryptocurrency, making true predictions of market experts, hit $100,000,000 a few hours ago. With this at the forefront, other sectors have also turned their primal focus towards market activity today. 

Notably, 24 hours ago, Bitcoin was trading at a low of $95,954 after which it began to progress upward slowly. The historic instance occurred at around 8.00 am Asian hours, as with a sudden propellant Bitcoin hit and surpassed $1 million. The digital asset’s one-day price increase rate is 7.62% and its current ATH is $103,900. 

Moreover, unlike its previous cycles, BTC has continued to hold prices above the $100K level, much to investors’ relief. At the time of writing, Bitcoin was trading at $103,126, according to CMC data. 

The cryptocurrency seems to have finally answered the “million dollar” question. Several prominent members of the community, such as Michael Saylor, shared celebratory posts on X.   

Zooming out, over the past year, Bitcoin’s price performance has been 134.28% YTD. Throughout the last 365 days, the cryptocurrency staged several bull runs. However, the last few cycles in Q3 broke key resistance levels.  

What Happened & What Awaits For Bitcoin Price? 

Bitcoin price, as aforementioned, has journeyed a long way since January 2024. At the time, it was trading at the $40K level and has rallied to current levels. While the March bull run introduced BTC to the $70,000 range, the November bull run exposed it to $90K. Following this, the cryptocurrency’s advent to $1M occurred. 

Several community members, including market expert Ali, predicted Bitcoin’s price action in the past day. Additionally, Bitcoin’s Chaikin Money Flow (CMF) indicator value is 0.16 indicating increased capital influx. Moreover, its RSI standing at 73.09 suggests an overbought market situation. 

However, the crypto market has also witnessed increased liquidations in the past few hours. This was observed following the digital asset hitting its new high. Other cryptocurrencies such as Ethereum have also shown upward trends. 

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