$BTC
As of January 10, 2025, Bitcoin (BTC) is trading at approximately $94,937, reflecting a 1.74% increase from the previous close.
In December 2024, Bitcoin surpassed the $100,000 milestone, reaching a peak of $108,364 on December 17.
This surge was largely attributed to expectations of a crypto-friendly regulatory environment under the recently elected U.S. President Donald Trump.
Technical analysis indicates that Bitcoin is exhibiting strong development within a rising trend channel over the long term, signaling increasing optimism among investors and suggesting a continued rise.
Additionally, the Bitcoin Dominance Index (BDI) has reached 61.39%, the highest level since March 2021, indicating Bitcoin's growing share of the overall cryptocurrency market.
Institutional interest has been a significant driver of Bitcoin's recent performance.
The launch of Bitcoin Spot ETFs in early December 2024 provided investors with direct exposure to Bitcoin on American stock exchanges, contributing to increased demand and higher prices.
Furthermore, BlackRock, the world's largest asset manager, recommended that investors allocate up to 2% of their portfolios to Bitcoin, enhancing its appeal as a strategic reserve asset.
Despite these positive developments, it's important to note that Bitcoin remains a highly volatile and speculative asset.
Analysts caution that while the recent surge marks a pivotal moment, the cryptocurrency's inherent volatility necessitates careful consideration by investors.
In summary, Bitcoin's