Bitcoin (BTC) has broken its previous all-time high. On November 11, 2024, the BTC price surged to $82,234, riding a wave of institutional investment on Spot Bitcoin ETFs and renewed political optimism.
The BTC price increase has sparked a bull run among altcoins in the crypto market. As a result, Experts are reevaluating their speculated price targets for tokens like Solana (SOL) and IntelMarkets (INTL).
BTC Price Records New All-time High
On November 6, 2024, U.S. presidential election day, pro-crypto Republican candidate Donald Trump, reclaimed the White House with promises to make the U.S. the global leader in digital assets and build a strategic Bitcoin reserve.
This ignited a new wave of enthusiasm in the market and amplified market confidence. Consequently, BlackRock’s Spot Bitcoin ETF (IBIT) logged its largest daily trading volume of $1.1 billion this week. According to data from SoSoValue, other Spot Bitcoin ETFs totaled $6 billion, the largest daily volume since March 14.
Moreover, the BTC price hit a new ATH on November 13, and is currently trading around $91,000, having surged over 20% in the last seven days. Spot Bitcoin ETF analyst Eric Balchunas commented on X that the surge has pushed the total market cap to $2.71 trillion. He projects that the BTC price could reach $100,000 by January 20, 2025, when Trump will be inaugurated.
Solana (SOL) Hits New Open Interest Milestone
Solana (SOL), the fourth-largest crypto by market cap, has also reached a new milestone, with Open Interest hitting $4.28 billion. Solana’s (SOL) recent accomplishments follow the BTC price increase and surge in Spot Bitcoin ETF. The price of Solana (SOL) reached an eight-month high with a rise over 15% on the weekly chart.
Interestingly, unique addresses on the Solana (SOL) network have increased to more than 100 million—a dramatic change from 509,000 monthly active addresses at the beginning of the year. This follows the launch of Eclipse, the first Ethereum Layer-2 (L2) network powered by Solana (SOL).
Thanks to the recent updates on Solana and BTC price influence, analysts are seeing SOL in a new light. They foresee major inflows in Solana ETFs that could challenge the inflows in Spot Bitcoin ETF and Ethereum’s. Solana’s price is also bound for a significant rally, and these analysts predict a surge over $300 in 2025.
IntelMarkets Poised For Massive 5500% Surge In November
As Spot Bitcoin ETFs are recording institutional inflows, IntelMarkets (INTL) is doing the same. Savvy institutional investors are diversifying with the AI crypto token because of its potential for huge returns, its deflationary model and amazing platform features.
IntelMarkets gained more popularity during this past week with the launch of its new crypto wallet DigiFort— the first quantum-proof crypto custody solution, featuring easy non-custodial asset management.
However, IntelMarkets has captured the interest of investors with its ongoing presale with tokens available at just $0.046 each in the current stage 5. INTL tokens are utility tokens. This means that they give investors access to premium features on IntelMarkets’ trading platform and tokenization benefits.
The uniqueness of IntelMarkets’ platform is fueling the presale momentum and by joining the presale, investors can take positions for massive returns up to 5500% in November, according to analysts.
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