The price of Bitcoin recently reached a new all-time high of over $100k. With the total cryptocurrency market capitalization at $3.62 trillion, there is speculation of Bitcoin's price continuing to rise and potentially reaching $111k. Despite a drop of 3.06% to close at $101,237, Bitcoin has since rebounded and is currently trading at $107,601 with strong underlying demand. Technical indicators suggest a positive outlook for Bitcoin's price movement, and the derivatives market is increasingly optimistic. However, if the price closes below $100k, there is a possibility of a drop to the $95,119 support level.



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