Bitcoin Breaks $106,000 as Investors Pour Funds into WEPE, STARS Presales

After hovering just below the $100,000 line throughout the second half of November and early December, Bitcoin managed to soar past the historical milestone on December 5th. Although its price has fluctuated since, the leading cryptocurrency recorded a new high today when it briefly went past $106,000.

Investors are now looking for other cryptos with high growth potential that can benefit from Bitcoin’s continued momentum, with new projects WEPE and STARS attracting increasing attention.

What’s Behind Bitcoin’s Meteoric Rise and New ATH?

In December 2023, the crypto market cap stood at $1.57 trillion, and it has more than doubled since, following the US Election Day and Bitcoin’s soar in November.

Climbing by an impressive 144.33% in 2024, Bitcoin’s market cap crossed $2 trillion for the first time in early December. Although BTC experienced a correction immediately after, dropping to $94,577, the leading cryptocurrency is now finding support above the $100,000 level.

Currently trading at $103,602, Bitcoin recorded a new ATH at $106,488 earlier today, following a series of positive developments for the token. In an interview for CNBC, President Trump hinted at the implementation of the strategic Bitcoin reserve, which would see the US purchase and hold a million BTC over the next five years.

Additionally, crypto analysts from Santiment detected 1,582 new wallets that hold at least 100 BTC compared to the holders on October 10th, which could reflect increasing institutional demand.

MicroStrategy, which holds around 426,000 Bitcoins, is also bolstering the bullish sentiment as it is a likely candidate to join the Nasdaq-100 on December 23rd, largely thanks to its aggressive BTC investment strategy that started in 2020.

Bitcoin’s Further Soar Could be a Boon for Altcoins

Following Bitcoin’s meteoric rise in November, several altcoins saw impressive gains, including ETH and XRP, which are up by 73.67% and 280.20% this year, respectively.

ETH entered November priced at $2,515 and skyrocketed to $3,375 following the US Election Day and Bitcoin’s surge. Today, it is priced at $3,908 after briefly peaking above the $4,000 mark in early December.

Trading between the $0.3 and $0.8 marks since summer 2022, XRP climbed to the fourth spot of leading cryptocurrencies in November, when its price reached $2.86. Although ETH and XRP faced price corrections in December, Bitcoin’s potential soar could position them to reach or even surpass their previous ATHs in 2025.

Crypto expert Sensei believes the market is nearing another altcoin boom, which could be fueled by the introduction of the Bitcoin Act, which Senator Lummis calls a “jumping off point.”

Besides altcoins like ETH and XRP, other spaces in the rapidly growing crypto market have recorded significant gains, including the meme coin space.

Valued at $57 billion in early November, the market cap of meme coins currently stands at $115 billion, reflecting the increasing investor interest in the sector.

Traders Back WEPE and STARS for the Next Bull Run as Experts Highlight Their Explosive Potential

While the leading meme coins face a sharp downturn, with 10-22% losses among the top five, coins still in their presales are thriving as investors turn to projects yet to realize their potential.

Wall Street Pepe (WEPE) and Crypto All-Stars (STARS) are enjoying more attention than most as investors rush to secure their share of the tokens before they hit the DEXs.

Crypto All-Stars seeks to revolutionize meme coin staking with its MemeVault, a cross-chain, multi-token staking protocol. Those using the MemeVault to stake their meme coins, such as DOGE, PEPE, or SHIB, will earn STARS passively. #Write2Earn