Market Overview
As the king of cryptocurrencies hits its peak for the day, Bitcoin hovers around the $92,500 level. Alongside, Silver has reached a new record. Today, US markets will be open for half a day. The rise in Silver prices is linked to the details of the CME activity pause discussed today.
Bitcoin's Ascent
Following a start with a nearly 1% increase in the half-day futures trading session at the stock market, BTC turned upwards. Surpassing its daily low, BTC is heading towards the critical resistance at $93,000. Many analysts have indicated that breaking this resistance could potentially lead to six-digit levels. The US markets will remain open until 9 PM today. Apart from that, no significant data is expected to be released in the coming hours.
With a calm agenda and the market continuing its upward trajectory, cryptocurrencies are getting what they need for now. As we approach the daily close, time will tell what unfolds. Should BTC break through the resistance, we might witness cryptocurrencies reaching greater heights before the Thanksgiving holiday ends on Monday, with some altcoins standing out positively.
Silver Reaches All-Time High
Silver has surpassed its peak from October, reaching an all-time high. It's now trading at over $54.6, and the server-induced pause in CME operations was justified by short positions in this area. We’ve discussed the possibility of a reactive surge following the market opening. With the all-time high level breached, it’s challenging to predict where the rise will pause. Prices have surged approximately 12.5% in just four days.