Post-ATH Positive Sentiment Of Bitcoin, Here's The Crypto Market Prediction This Sunday

JAKARTA - The crypto market is again showing impressive performance after Bitcoin (BTC) recorded its recent all-time high price (ATH).

On November 13, 2024, Bitcoin reached the price of ATH of around 93,200 US dollars or around Rp1.47 billion for the first time.

According to Crypto's Financial Expert, Panji Yudha, this price spike comes in line with two major factors affecting the global market, namely Donald Trump's victory in the US election, and the Federal Reserve (The Fed)'s decision to lower interest rates.

"After reaching the ATH, Bitcoin entered the consolidation phase at a price level of around US$88,750 (Rp1.4 billion) to US$92,000 (Rp1.45 billion) in the last 4 days," said Panji.

According to him, this consolidation shows that the market is testing the power of the price level, with some investors waiting for a clear signal to take further positions.

"With the strong momentum from last week, the crypto market is expected to remain active, although the market can face some challenges," he added.

Technically, Panji sees that Bitcoin is currently testing a critical level near its ATH price of around US$93,000 (Rp1.47 billion). However, to maintain bullish momentum, the price must last above the level of 88,750 US dollars (Rp1.4 billion).

Panji continued, "If BTC manages to strengthen and penetrate the level of $93,000, it will likely lead to a psychological level of 100,000 US dollars (Rp1.58 billion). However, if BTC falls below $88,750, we could see a consolidation phase longer or even a price correction towards the support level of $85,000 (Rp1.34 billion)."