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In one of the biggest milestones in cryptocurrency history, Bitcoin, the first decentralized digital asset, surpassed the $100,000 mark. Rising optimism about cryptocurrency regulation, institutional adoption, and back-to-back ETF flows have triggered this promising bull run.
The industry greeted the news with great excitement as the bull cycle continued in full swing.
BTC Finally Hits 100,000 USD
Bitcoin’s $100,000 mark has been the most anticipated milestone in the cryptocurrency community. For most traders and investors, it is always a question of when, not if. The asset has experienced a significant price increase since Donald Trump’s presidential election, and has finally reached this peak.
At the beginning of this year, Bitcoin was only trading around $42,000. The asset first surpassed its 2021 peak in March after the US Securities and Exchange Commission approved Bitcoin ETFs on the US market. Finally, Bitcoin reached a new historic high of $75,000 before the election, but this development has significantly accelerated growth.
As of press time, Bitcoin is trading near its all-time high at $103,117.
Since early November, signs have shown that the $100,000 mark has never been closer. In addition to regulatory optimism surrounding Trump’s re-election, there are many other factors boosting investor confidence.
MicroStrategy completed two additional BTC purchases totaling more than $6.6 billion in November alone, solidifying its lead as the largest holder of Bitcoin. Leading mining firm Marathon Digital also revealed plans to buy more BTC to expand its portfolio.
During the same period, large investors and long-term holders pushed Bitcoin’s sustained growth into its final steps. One look at Fear and Greed Index about cryptocurrencies shows that the vast majority of users predict continued profits from here.
Overall, 2024 is the most successful year for BTC. Since SEC approval in January, financial institutions have begun investing in Bitcoin ETFs at a record pace, surpassing demand for any other ETF in U.S. history. Currently, the ETF holds 5% of the total supply.
As such, as this year of positive turmoil nears its end, it will always be remembered as the year when Bitcoin crossed the $100,000 mark.
General Bitcoin News
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