Bitcoin just hit $93,000, and it’s now $7,000 away from the long-awaited $100,000 target that so many in the crypto space have predicted for the end of the year.
According to CoinMarketCap, the cryptocurrency is up 5% today with a massive $1.8 trillion recorded in market cap but a 30% drop in trading volume to $108 billion.
The crypto is actively experiencing intense trading activities, especially on Binance, which has seen over $6 billion in trading volume in the last 24 hours, followed by Pionex exchange with $4 billion.
While some have taken the surge as an opportunity to sell off. Some see this as a buying opportunity. According to a whale tracker on X (formerly Twitter), several large Bitcoin whales have been buying BTC during recent price dips. Five whales have collectively acquired 952 BTC, worth approximately $83.7 million.
Notably, Tether minted an additional $1 billion USDT, contributing to Bitcoin’s price rise. According to Lockonchain, Tether has minted a total of $5 billion USDT over the past five days, injecting significant liquidity into the cryptocurrency market.
Meanwhile, other top cryptocurrencies have joined the rally. DOGE has surged 14% to hit $0.4218. Ethereum is up 1.58%, while Solana and SUI saw gains of 2.92% and 12%, respectively. In fact, the whole crypto market is up.
Also Read: Dogecoin Surges 89% After Trump’s D.O.G.E. Announcement
