Yigit Taha OZTURK 
Bitcoin surged to a new high, with some long-term investors seizing the opportunity to take profits as Bitcoin crossed the $90,000 mark. Crypto analyst Percival noted that long-term Bitcoin holders (those holding for over 155 days) see $90,000 as a crucial profit-taking zone.
On November 5, Bitcoin broke its all-time high of $73,800, reaching $90,000 for the first time on November 12. The price continued to soar, reaching $93,215 on November 13. However, this price surge led to increased selling pressure from long-term investors, but Percival pointed out that Bitcoin ETFs are absorbing much of the selling activity, preventing a significant impact on Bitcoin’s price.
Despite this increase in sell pressure, analysts remain optimistic about Bitcoin’s potential to reach $100,000 by the end of the year. MicroStrategy CEO Michael Saylor believes Bitcoin will surpass $100,000 in November or December. Additionally, Ryan Lee, Chief Analyst at Bitget, mentioned that November is historically one of the best months for Bitcoin’s returns, suggesting that the cryptocurrency could easily surpass $100,000 before the year ends.
In conclusion, while $90,000 is an important psychological level for Bitcoin, the overall market sentiment is focused on higher targets, with investors looking forward to a potential rally towards $100,000.
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