Bitcoin (BTC) has surged past the $100,000 mark, trading at $101,289.70 USD as of 11:44 AM EDT on Thursday, marking a significant milestone in the cryptocurrency’s history.
This rally reflects a 4.35% increase over the past 24 hours, with an intraday high of $100,346 and a low of $95,959.
Key Drivers Behind Bitcoin’s Surge
Several factors have contributed to Bitcoin’s recent ascent:
- Institutional Investment Growth: Bitcoin has experienced over $1 billion in daily inflows, indicating strong institutional interest.
- Record Realized Cap: The realized capitalization of Bitcoin has reached an all-time high of $891 billion, reflecting increased investor conviction.
- Positive ETF Inflows: Exchange-traded funds (ETFs) have seen significant capital inflows, with $142 million added on a single day, showcasing growing institutional adoption.
- Macroeconomic Developments: Recent announcements, such as a major trade deal between the U.S. and the U.K., have improved market sentiment and contributed to Bitcoin’s upward trajectory.
BTC Market Outlook
Analysts suggest that if Bitcoin maintains its current momentum, it could surpass the $100,000 mark and potentially target $105,000 in the near term.
However, they also caution about potential short-term volatility, especially with upcoming macroeconomic events.
BITCOIN GUIDES & RESOURCES:
- Latest Bitcoin Updates and Headlines
- How Does Bitcoin Work?
- How to Buy, Trade, and Hold Bitcoin
- How to Track Bitcoin Volatility and Maximize Your BTC Investment
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