Bitcoin surpasses $BTC $98K, nearing $100K
Bitcoin (BTC) has surged past $97,500, nearing the $100,000 milestone, driven by a pro-crypto U.S. government and renewed market optimism. This rally, dubbed the "Trump trade," gained momentum after the Republican election victory and Federal Reserve rate cuts, boosting risk appetite across asset classes.
BTC's 30% rise over 14 days has brought its market capitalization close to $2 trillion. Institutional interest has further fueled the rally, with BlackRock’s IBIT options—tracking Bitcoin prices and physically settled—reaching $2 billion in trading volume on their launch day.
Singapore’s QCP Capital noted that 73,000 contracts traded within an hour, with a bullish call-to-put ratio of 4.4:1, reflecting strong confidence in Bitcoin as a mainstream asset.
Analysts suggest this heightened institutional participation could stabilize Bitcoin by reducing volatility and downside risks, making it more appealing to traditional markets.
Optimistic forecasts now target BTC prices as high as $200,000 in the months ahead, signaling growing institutional and retail support for the cryptocurrency.
