Bitcoin surged to $97,539 on Nov. 29, recovering from a dip to $90,800 and approaching its all-time high of $99,800. Traders predict a push to $100,000, fueled by lower open interest and strong price resilience. Analyst Byzantine General highlighted the recent reset in open interest, suggesting that much of the passive supply has been absorbed, setting the stage for Bitcoin to “pierce 100k.”
Trader Jelle pointed out similarities to Bitcoin’s breakout past $30,000 in late 2023, adding that “a six-figure BTC is in sight.” Fellow trader Daan Crypto Trades echoed the sentiment, saying, “It’s going to take some time getting used to a six-figure Bitcoin. But I like it.”
Beyond short-term moves, macro analysts believe Bitcoin is catching up with gold’s strong performance, positioning it as a “superior” hedge. With optimism growing, a historic $100,000 price tag seems closer than ever.
Source: Cointelegraph
