Why Are Speculators So Optimistic After a Quick Price Spike?

So, the new ATH is $76,943.12. But hitting $80k will be tough. Short-term traders will want to take profits, and that’s what’s at the heart of the OP’s question.

A lot of folks are just watching the current price to gauge market trends. 70k is seen as a key level for a bullish run, but honestly, I think the initial spike came from the election news.