Bitcoin has surpassed the $100,000 mark for the first time, reaching an all-time high of $104,088,
Significant institutional investments have surged, with exchange-traded funds (ETFs) seeing inflows of over $676 million in a single day,
The recent election of Donald Trump as U.S. President has sparked optimism for a more favorable regulatory environment for cryptocurrencies.
The rally is supported by healthy spot market activity rather than just speculative trading, indicating sustained demand for Bitcoin.
The recent halving event in April 2024 reduced the supply of new Bitcoin entering the market, historically leading to price increases due to scarcity.
Speculation suggests that influential figures and companies, such as Michael Saylor and MARA Holdings, have been actively purchasing Bitcoin, contributing to upward pressure on prices.
Positive geopolitical developments and supportive stances from countries like China and Morocco towards cryptocurrencies have bolstered market sentiment
The recent price surge has reignited interest from retail investors, further driving demand and participation in the cryptocurrency market.
Analysts project that Bitcoin could potentially reach up to $150,000 by 2025,