a new ATH crossed, and this is only the beginning

Bitcoin, a true barometer of alternative financial markets, has reached a historic milestone by surpassing the $76,800 mark. A dizzying figure, certainly, but which, according to many analysts, is only the first page of a book which promises to become a bestseller. So why this meteoric rise, and what could still propel the king cryptocurrency to new heights? Let's explore the hidden forces orchestrating this bull rally.

Signals from institutional investors: an insatiable appetite

It is fascinating to see how once-reluctant institutional investors have transformed themselves into real market powerhouses.

The numbers don't lie: CME futures trading volume has exploded, reaching a peak of $13.15 billion on November 6, while nominal open interest exceeds 15,000 BTC.

One might think that such activity is the result of wild speculators, but the reality is quite different. These movements reflect a deep-seated belief that bitcoin is much more than just a bet. It is a strategic lever.

And why this sudden enthusiasm? Several factors come into play. First, the growing adoption of spot Bitcoin ETFs, which has breathed new life into institutional portfolios.

Then, the US political environment, transformed by the red wave of pro-crypto lawmakers, dissipated uncertainty and strengthened investor confidence.

The addition of more than $1.1 billion in open interest on the same day is not a coincidence, but a reflection of a carefully considered strategy.

Between hopes and technical analyses: towards $85,000 and beyond for a bitcoin?

It's no secret: crypto loves to flirt with the unpredictable. But this time, experts agree that the price of Bitcoin could very well touch $82,000 to $85,000 in the near future.

The Fibonacci Extension Tool, that precious analyst compass, already projects a target of $82,367. Support levels in the $77,000-$78,000 range are rock solid, and the depth of the order book reveals demand ready to swallow up the remaining supply. Suffice it to say that the field is clear for new flights of fancy.

What distinguishes this rally phase is also the relative stability of the options. According to JJ, a derivatives expert at HighStrike, implied volatility has calmed, suggesting the market may well have found its bottom.

This gives traders a good context to consider buying long-term options without fear of a sudden roller coaster ride. After all, the absence of chaotic movements during the US elections was a reassuring signal, a rare moment when crypto smiled at serenity.

The hidden drivers: geopolitics and monetary strategy

An often underestimated but crucial factor remains monetary policy. The US Federal Reserve's decision to cut rates by 25 basis points was greeted as a treat by the markets, crypto included.

Add to that the rumor of the potential creation of a strategic Bitcoin reserve by the United States, and you have the recipe for an explosive climate. A climate where investors aren't just watching Bitcoin climb: they're getting on board.

The emergence of pro-crypto lawmakers and hopes for continued easing of interest rates only increases the belief that Bitcoin has yet to reveal its full potential. The air is charged with electricity, and each new massive purchase seems to be the spark that could light the next big fuse.

Thus, Bitcoin, after having braved storms and skepticism, stands on the threshold of new promises. And if history has taught us one thing, it’s that when it comes to BTC, the best is often yet to come. Furthermore, Ethereum is also preparing something.