Crypto Week Ahead: Bitcoin Charts All-Time High, Retail Push Could Drive Price To Over $100,000

Crypto Week Ahead: Over the past seven days, Bitcoin (BTC) price achieved a high of $73,544.76.

BTC dominance, at the time of writing, stood at 58.47 percent.

Source : Traxer/Unsplash

Bitcoin (BTC), driven by Donald Trump’s US election win and exchange-traded funds (ETFs) inflows, has managed to chart a new all-time high over the weekend, currently residing at around $81,500 at the time of writing, as per CoinMarketCap data. It is largely believed that once retail investors also join in, BTC price could boom even further, with possibilities of eclipsing the $100,000 mark as well soon. 

Before we proceed further, readers should note that the overall crypto market and coin prices are extremely volatile. There are no foolproof methods to ascertain how cryptocurrencies are expected to behave in the future. 

This article is aimed at helping investors stay on top of the current market scenarios and the biggest events that have already taken place as well as some upcoming occurrences that are worth noting. Investors are advised to do their research before taking any call. 

Crypto Prices Over The Past Week

Last Monday (November 4), the overall crypto market cap stood at $2.29 trillion. BTC price stood at around $68.965.52. ETH price stood at around $2,470.66.

A week later, the overall market cap rose to a whopping $2.76 trillion.

DeFi's total volume stands at $13.83 billion, at 6.08 percent of the total market 24-hour volume. In the case of stablecoins, the overall volume stands at $209.48 billion, at 92.08 percent of the total 24-hour market volume. As per CoinMarketCap, the overall market fear and greed index stood at ‘Greed’ with 79 points (out of 100).

BTC dominance, at the time of writing, stood at 58.47 percent.

Over the past seven days, Bitcoin achieved a high of $73,544.76 (on October 30) and a low of $67.591.55 (November 3).

Ethereum, on the other hand, saw a high of $2,718.30 (October 30) and a low of $2,421.56 (November 3).

Crypto Events To Note

Bitcoin soared to an unprecedented peak of $81,000, following the recent election victory of former President Donald Trump. This price surge also positively impacted other major cryptocurrencies, including Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC), all showing strong gains. CoinMarketCap’s Market Fear & Greed Index revealed high investor confidence, rating market sentiment at 79 out of 100 (Greed). Among the top performers, CRONOS led with an impressive 24-hour increase of over 32 percent, while Raydium (RAY) experienced a dip, slipping nearly 4 percent after a substantial rally.

Dogecoin is seeing impressive gains this Sunday morning, surging 20.5 per cent in value against the U.S. dollar as of 9:44 am EDT. The broader meme coin market is also experiencing an upswing, rising 18.9 per cent over the past 24 hours and reaching a collective valuation of over $90 billion, as reported by CoinGecko. With Dogecoin (DOGE) alone accounting for $36.17 billion of this total, the popular cryptocurrency now ranks as the seventh-largest digital asset by market capitalisation this weekend.

In a recent tweet, Ripple CEO Brad Garlinghouse discussed the possible impact of President-elect Donald Trump’s administration on cryptocurrency regulations. Garlinghouse expressed his belief that changes under the new administration could bring significant shifts in the US

I’ve shared some thoughts on what the Trump administration could mean for crypto and wanted to also recognize the XRP family’s patience and unwavering support.
A lot has happened since XRP was the 2nd most valuable digital asset. It’s been - at times - a frustrating journey.

~6…

— Brad Garlinghouse (@bgarlinghouse) November 7, 2024

This commentary comes as industry leaders watch closely, hoping for a regulatory landscape that could provide clearer guidance and support for crypto-related businesses. Ripple’s legal challenges with the SEC have been ongoing, and Garlinghouse’s remarks suggest cautious optimism about a possible reformed regulatory approach under Trump’s leadership.

What Crypto Traders Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, "Bitcoin closed out an eventful week by reaching a new all-time high of $81,600 over the weekend. The post-election rally, driven by significant ETF inflows, signals strong momentum in the market. Although institutional investors have increasingly joined this bull run, but retail investors are yet to enter the market. So, if retailers participate we could see BTC hitting the $100K mark soon.”

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.