Bitcoin (BTC), the world's largest cryptocurrency by market capitalization, has reached a new all-time high, surpassing $97,000. According to CoinMarketCap, BTC is currently trading at $97,042.39 on the Binance USDT market. This surge in BTC's value comes after a period of consolidation, during which the cryptocurrency traded within a relatively narrow range. However, in recent days, BTC has broken out of this range and embarked on a bullish run. Several factors are likely contributing to BTC's current rally. One factor is the increasing institutional adoption of cryptocurrency. Major financial institutions, such as PayPal and Square, now offer cryptocurrency services to their customers. This has made it easier for investors to buy and hold BTC, which has increased demand for the cryptocurrency. Another factor contributing to BTC's rally is the growing popularity of decentralized finance (DeFi). DeFi applications allow users to lend, borrow, and trade cryptocurrencies without the need for a centralized intermediary. This has created a new use case for BTC and has increased its appeal to investors. The current rally in BTC's price is a sign of the growing maturity and acceptance of cryptocurrency. As more investors recognize the potential of BTC and other cryptocurrencies, demand for these assets is likely to continue to increase, driving their prices even higher.

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