Bitcoin (BTC) surprised everyone on November. 10 as BTC price action abruptly hit new best highs. The BTC price jump as well coincided with news that U.s. inflation hit a 30-year high in October, as reported past the Wall Street Journal.

BTC/USD 1-hr candle nautical chart (Bitstamp). Source: TradingView

Bitcoin and Ether "relentlessly upwardly"

Information from Cointelegraph Markets Pro and TradingView captured a snap change of direction for BTC/USD, which gained $2,000 in just 45 minutes.

In step with various like moves in recent weeks, Bitcoin not simply reversed its previous curt-term downtrend but eclipsed its previous record high of $68,564.

At the time of writing, the volatility was not done, equally $69,000 came into view and with it the prospect of the psychologically significant $lxx,000 mark.

As Cointelegraph reported, that level was firmly on the radar of traders, who believed that any correction in the meantime would still stop with fresh upside.

"Relentlessly up," popular trader Pentoshi reacted.

"No dips given, just straight trending on $BTC and $ETH since xl.7k with a minor period of consolidation. Will (bears) ever get it correct?"

An accompanying nautical chart described the $40,000 zone every bit peradventure the "last dip ever," with Bitcoin at present in price discovery mode.

BTC/USD annotated toll nautical chart. Source: Pentoshi/Twitter

ETH copies Bitcoin with new record loftier

Ether (ETH), Binance Money (BNB) and XRP also reversed their downward-sloping stance as the mood swiftly changed on the day.

Related: Bitcoin to hit $250K in January 2022 but 'invalidate' S2FX BTC price model — New prediction

ETH/USD followed Bitcoin to hitting new all-fourth dimension highs of its own of $4,868 — getting ever closer to the $5,000 marker.

ETH/USD 1-hour candle chart (Bitstamp). Source: TradingView

U.S. markets had withal to open at the time of writing, with traders eyeing Tesla after its sell-off on Nov. 9 sparked a knock-on impact across crypto markets.