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#Bitcoin$BTC could reach $100,000 today as it appears to be breaking out of a bull flag on the lower timeframes.
12:14 pm · 21 Nov 2024
The crypto market continues to trend bullish despite a dip for altcoins in the past 48 hours.
But as alts eye the next leg up, the flagship asset Bitcoin ($BTC) is already on what looks like an unstoppable dash past $100k.
Here’s what happened in the crypto market during the Asian trading hours on November 21.
$BTC hits $97k; Is $100k today possible?
The benchmark cypto asset $BTC has been on an uptrend since November 5, when Donald Trump secured a historic re-election by defeating Kamala Harris.
After eclipsing its 2021 peak amid the jubilation, Bitcoin has gone on to break above $90,000.
On the way up, its market cap has surpassed that of major companies such as Meta, Tesla, Saudi Aramco and Amazon.
The spike above $94k pushed Bitcoin’s market cap above that of precious metal Silver.
On Thursday, $BTC/USD shot past $97k to hit highs of $97,836.
Analysts expected the cryptocurrency to continue higher and could eclipse the $100k level within the coming days.
One analyst says it could be in the next 24 hours.
Bitcoin currently has a market cap of $1.9 trillion and is up 43% in the past 30 days.
Meanwhile, the global crypto market capitalization reached $3.3 trillion, with 24-hour volume at $259 billion.
Floki price jumps amid major news
$FLOKI is one of the top gainers in the market today.
While the meme coin hasn’t exploded as have tokens outside of the top 100 by market cap, it’s up 5% and double-digits in the past week.
Invezz has highlighted the $FLOKI price outlook.
Some key catalysts include the meme coin’s listing on Coinbase and the upcoming Valhalla game launch.
$FLOKI price hit $0.000288, its highest level since June.
Bithumb lists Toncoin ($TON)
Toncoin ($TON) dropped out of the top 10 cryptocurrencies by market cap as Cardano and Dogecoin soared.
However, the $TON network token is looking to bounce.
On November 21, South Korea’s second-largest cryptocurrency exchange Bithumb announced the listing of $TON against the Korean won.
The announcement helped Toncoin price higher, with the altcoin seeing a 61% spike in trading volume to over $565 million.
A slight 3% upside comes ahead of trading for $TON/KRW opening at 8 pm local time on November 21.
Bitcoin Cash and Bitcoin SV surge 17% and 10% respectively
$BCH and $BSV are two coins forked from Bitcoin.
The prices of Bitcoin Cash and Bitcoin SV have mirrored that of $BTC in recent months, with $BCH seeing the most upside whenever Bitcoin spikes.
According to CoinGecko data, $BCH rose to intraday highs of $533 during the Asian trading hours. $BSV/USD also rose sharply to hit $78.
Filecoin ($FIL) price retests key area
$FIL is another coin to hint at a potential price breakout.
The altcoin’s upward trajectory cooled around $4.84 on November 17, with sellers pushing to lows of $4.10.
However, Filecoin price has recovered to the $4.50 area and could target a psychological return to the key resistance zone above $6.
On the flipside, a decline to support at $3 where sideways action lingered for four months before this month’s breakout, is possible.
Filecoin and Gitcoin’s recent announcement of a collaboration on a pilot for public goods funding is a notable development.
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