Golden Finance reported that Bitfinex reported that unprecedented inflows into Bitcoin ETFs and strong institutional demand pushed Bitcoin close to the historic $100,000 mark, but long-term holders (LTH) also began to take profits. Despite facing profit-taking resistance near $99,334 (its latest all-time high), BTC showed resilience, holding steady near $96,000 over the weekend before regaining some momentum in early trading on Monday.
BTC is now up 47% since its pre-U.S. election lows of $66,880, and is up 130% year-to-date. BTC’s outperformance relative to traditional assets is undeniable: Bitcoin’s market capitalization now exceeds that of Saudi Aramco, consolidating It ranks as the seventh largest asset in the world, with a valuation of over US$1.9 trillion.