A week after the first attempt, Bitcoin (BTC) once again approached the $100,000 milestone on Friday, as crypto prices soared with the return of U.S. traders after Thanksgiving.
The Coindesk Bitcoin Index rose to a trading high of $98,690 in early U.S. time and is up 3.3% over the past 24 hours. The broader market CoinDesk 20 index surged 6.2% over the same period, with altcoins leading the rally. XRP, ADA, RENDER, and HBAR recorded double-digit gains during the day.
Traditional U.S. markets were closed for the holiday on Thursday, but trading was shortened today. U.S.-listed Bitcoin miners are on the rise, led by a 15% rise in BitDeer (BTDR), which is an all-time high above $14, although it doesn't always go up just because Bitcoin prices rise. The highest value has been updated. Major miners such as MARA Holdings (MARA) and Riot Platforms (RIOT) both rose between 5% and 10% in the first few hours of trading. Cryptocurrency stocks Coinbase (COIN), MicroStrategy (MSTR), and Semler Scientific (SMLR) have lagged behind miners.
Bitcoin futures prices on the Chicago Mercantile Exchange (CME) briefly exceeded the $100,000 level during the day, but have since declined slightly, according to data from TradingView. This is the second time since reaching the milestone for the first time last Friday.
The futures price premium relative to the spot market suggests strong institutional participation, with open interest in Bitcoin CME futures at record levels.
The Coinbase price premium, which measures Coinbase's BTC spot price compared to offshore exchange Binance, has also returned to positive territory after Bitcoin fell below $91,000 earlier this week. Coinbase Premium highlights that this rise is primarily driven by American market participants.
“Judging by order volume, Coinbase whales are driving this Bitcoin rally,” CryptoQuant CEO Ki Yong-joo said in a post on X.
