Bitcoin briefly surged to $96,699, hitting a new all-time high on November 20th, and is currently priced at $96,620, while Ethereum is at $3,102, up by 1% in the past 24 hours. The market's 24-hour long/short ratio in the futures market was almost balanced at 50.4% long versus 49.6% short positions. The Fear and Greed Index, which measures market sentiment, was at 83 yesterday and maintains the Extreme Greed level at 82 today. The crypto market is experiencing an unprecedented surge, with Bitcoin reaching a new all-time high of above $96,699 today. Solana, driven by memecoin activity broke records in daily transaction fees and revenue. Meanwhile, MicroStrategy continues to grow its Bitcoin holdings, now surpassing cash reserves held by major corporations like Nike and IBM. This article explores the recent achievements of these major crypto players and examines their impact on the broader market.

1. MicroStrategy plans to sell $2.6 billion and use the proceeds to buy Bitcoin.

2. MicroStrategy's market cap surpassed $110 billion, reaching an all-time high; it is now among the top 100 publicly traded companies in the U.S. by market cap.

3. Sky (formerly MakerDAO): USDS is now live on the Solana network.

4. Stripe launched a feature for B2B payments using stablecoins.

 Crypto Fear & Greed Index | Source: Alternative.me 

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Read More: Bitcoin to $200K: Bernstein’s Prediction, MicroStrategy Buys $4.6 billion BTC, Goldman Sachs to Launch New Crypto Platform and More: Nov 19

Bitcoin surged to a new all-time high of $96,000 today following steady bullish momentum since the 2024 election. Despite some initial hesitation Bitcoin has remained strong as it moves closer to the psychological $100,000 level. This massive run began after the U.S. election with Bitcoin emerging as the big winner among various market assets.

Source: BTC 1 Day KuCoin Chart

BTC/USDT faced significant resistance at key levels like $90,000 and $85,000 but buyers showed aggressive support forming a series of higher lows. This pattern led to an ascending triangle which indicated a breakout was coming. Now with Bitcoin at $96,000 the next major target is the iconic $100,000 level—a mark that could ignite excitement and media attention across financial markets.

Key Levels and Buyer Sentiment

Bitcoin's journey over the past few weeks has shown the importance of psychological price levels. The $90,000 mark was crucial, acting as both a barrier and eventually a launching pad for the next leg up. As bulls pushed higher $93,500 held as resistance twice creating a foundation for support at each pullback. This behavior highlighted buyer interest at lower levels rather than the top indicating a willingness to defend support zones.

The current challenge lies in maintaining momentum as BTC nears $96,000. If this level sees some initial resistance, past areas of interest including $93,500 and $91,804 may provide much-needed support. As long as Bitcoin can hold above $90,000 the bullish sentiment will remain intact increasing the likelihood of further gains.

The Quick Path to $100K  

With Bitcoin now trading at $96,000 the question on everyone's mind is whether it can reach $100,000 soon. Major psychological levels like $100,000 can bring heightened volatility and increased attention but they also come with risk. Investors looking to enter or add to long positions should consider potential pullbacks as opportunities rather than chasing prices at highs. A level like $96,000 could bring some resistance but if Bitcoin finds support at previous resistance points the road to $100,000 could be clear.

Bitcoin's recent rally to $96,000 shows its resilience and the confidence buyers have in pushing prices higher. As we approach the significant $100,000 level caution is necessary but the overall trend remains bullish. If support holds at key levels like $93,500 or $91,804 Bitcoin could continue its climb and break into six figures setting a new milestone for the largest cryptocurrency in the world. The coming weeks will be crucial as Bitcoin aims to achieve this long-anticipated mark potentially rewriting the landscape of global finance.

Read more: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025

Source: SOL/USDT 1 Week Chart KuCoin

Solana reached a milestone with $11.8 million in daily transaction fees and $5.9 million in revenue. Fueled by the meme coin craze Solana outperformed Ethereum in fees and user activity. The total value locked (TVL) in Solana's DeFi ecosystem hit $8.35 billion showing strong investor confidence and significant liquidity inflow.

Raydium Solana's top decentralized exchange generated $15 million in fees and $1 million in revenue over 24 hours. Solana's ability to handle 65,000 transactions per second with low fees has made it a favorite among traders seeking fast and cost-effective transactions. Raydium’s success reflects the broader surge in Solana's network activity.

Pump.fun a memecoin launchpad on Solana brought in $2.4 million in daily revenue surpassing Bitcoin’s $2.3 million. This shows how meme coins have driven intense activity and increased engagement on Solana.

Solana's token SOL saw a 296% rally this year reaching a market cap of $113 billion with a peak price of $247 on November 19. SOL is now the fourth-largest cryptocurrency closing in on Tether's $128.8 billion market cap.

With an average transaction fee of $0.00025 compared to Ethereum's $4.12 and the capacity to handle 65,000 transactions per second Solana offers better scalability and cost efficiency. As meme coins and DeFi services grow in popularity Solana continues to draw users and investors positioning itself for sustained growth and a stronger role in the crypto market.

DeFi TVL: Ethereum vs. Solana | Source: DefiLlama

Read more: Top Solana Memecoins to Watch in 2024

Source: Bloomberg

MicroStrategy now holds $26 billion in Bitcoin after the price surged to $90,000 last week. This amount surpasses cash reserves held by major companies including Nike and IBM. MicroStrategy, one of the largest Bitcoin holders, began accumulating in 2020 making it the first company to adopt Bitcoin as a reserve asset. The company’s Bitcoin value currently rivals ExxonMobil’s treasury and stands just below Intel’s $29 billion and General Motors’ $32 billion.

The company has accumulated 279,420 BTC to date and has seen its stock price jump from $15 to $340—a 2,100% increase since it began investing in Bitcoin. MicroStrategy plans to acquire more Bitcoin over the next three years under the 21/21 Plan aiming to spend $42 billion—$10 billion in 2025, $14 billion in 2026 and $18 billion in 2027. This plan would bring the company’s holdings to approximately 580,000 BTC, around 3% of the total supply.

MicroStrategy has secured funding from equity and fixed-income securities totaling $21 billion for the acquisitions. In October 2024 the company purchased 7,420 BTC worth $458 million followed by an additional 27,200 BTC in November worth $2 billion. Bitcoin continues to dominate the crypto market with trading volume hitting $43 billion in the past 24 hours. MicroStrategy’s aggressive approach makes it a major player in the Bitcoin market outperforming traditional corporate cash holdings.

MicroStrategy's aggressive Bitcoin strategy continues to set it apart from traditional corporations making it one of the most significant players in the crypto space. By surpassing corporate giants like Nike and IBM in cash reserves through Bitcoin the company highlights the shifting landscape of corporate treasury management. With plans to acquire even more BTC MicroStrategy shows unwavering confidence in Bitcoin's long-term value positioning itself to shape the future of digital finance.

The crypto market's momentum shows no signs of slowing down. Bitcoin's climb to $96,000 Solana's record-setting revenue and MicroStrategy's massive Bitcoin holdings underscore the growing significance of digital assets in both retail and institutional finance. As these cryptocurrencies push toward new milestones their influence on global financial systems continues to expand, reshaping how both investors and corporations perceive value in the digital age. The coming months will be crucial as these projects aim to further solidify their roles in the evolving financial landscape.