Bitcoin Nears $100,000 Milestone Again as Crypto Prices Surge

Bitcoin Surges Alongside Return of U.S. Traders

Bitcoin Approaches $100,000, Altcoins Lead the Advance

Bitcoin is once again approaching the $100,000 milestone, with the Coindesk Bitcoin Index climbing to a $98,690 session high as crypto prices surged higher alongside the return of U.S. traders following Thanksgiving. Altcoins like XRP, ADA, RENDER, and HBAR saw double-digit gains, leading the advance in the market.

U.S.-Listed Bitcoin Miners Rise

Bitdeer Hits All-Time High as Miners Move Higher

Traditional U.S. markets are having a shortened session today, with U.S.-listed bitcoin miners like Bitdeer, MARA Holdings, and Riot Platforms moving higher. Bitdeer saw a 15% advance to notch a fresh all-time high above $14, with major miners following suit with gains of 5%-10% in the first hours of the session.

Bitcoin Futures on the Chicago Mercantile Exchange

Futures Briefly Surpass $100,000

Bitcoin futures on the Chicago Mercantile Exchange briefly surpassed the $100,000 level before slightly retreating, marking the second occasion after initially hitting the milestone last Friday. The price premium on futures relative to the spot market indicates strong institutional participation, with open interest for bitcoin CME futures at all-time high levels.

Coinbase Price Premium and Market Participation

Coinbase Whales Drive Bitcoin Rally

The Coinbase Price Premium has bounced back to positive territory, highlighting that the rally is driven by American market participants. According to Ki Young Ju, CEO of CryptoQuant, Coinbase whales are driving this bitcoin rally, as indicated by order size and market behavior.