Bitcoin in ‘Beast Mode’: Will It Break $100,000 as Investors Pile In?

According to a recent report from COINOTAG News dated November 12th, notable market analyst Chris Weston of Pepperstone Group has indicated that Bitcoin appears to be in “beast mode.” He raises a critical question for traders contemplating entry into the market: should they engage now or wait for a minor correction that might alleviate some of the current market exuberance? Meanwhile, data from the derivatives exchange Deribit reveals that investors are anticipating Bitcoin to surpass the $100,000 milestone before year-end. In a significant move, MicroStrategy Inc. has acquired roughly 27,200 bitcoins for an investment of approximately $2 billion within a ten-day span. Katie Stockton, a prominent technical analyst at Fairlead Strategies LLC, suggests a pause in the rapid growth, recommending a short-term neutral bias as the market digests these developments.