CandleFocus Bitcoin Hits Another Milestone, Topping $77K for First Time; Funding Rates Suggest Crypto Rally Can Keep Going
2024-11-08
Author: Content Editor
Bitcoin (BTC) reached a new milestone by surpassing $77,000 for the first time after Donald Trump's election victory. Altcoins, such as Cardano (ADA) and Polygon (POL), also experienced surges in price. Ethereum's ether (ETH) rose to just below $3,000, driven by the growing decentralized finance (DeFi) sector. Solana (SOL), a contender to dominate Ethereum's DeFi dominance, reached $200 for the first time since April. Funding rates for perpetual swaps on crypto exchanges are closer to neutral levels, suggesting that crypto prices have room to advance higher. Ari Paul, founder of BlockTower, believes the bull market is in its seventh inning and predicts bitcoin could reach $125,000.
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