Bitcoin Nears $100,000 as Six-Day Rally Powers 2025 Surge: Details.
#BTC , the first and largest cryptocurrency by market capitalization, is edging closer to $100,000 for the first time in 2025, following a remarkable six-day gain. Bitcoin has had a phenomenal start to the year, gaining traction as positive optimism spread throughout the cryptocurrency market.
At the time of writing, Bitcoin is trading up 1.27% in the last 24 hours to $99,021 after reaching intraday highs of $99,888, just shy of the $100,000 mark. Bitcoin began to rise from lows of $91,887 on Dec. 31 and has continued into the new year; Bitcoin has marked six straight days of gains since this date and would mark its seventh, assuming today closes in green.
Bitcoin touched record highs of $108,268 on Dec. 17, 2024. However, the rally faded shortly thereafter, likely due to year-end profit-taking and hawkish Fed rate predictions.
As Bitcoin makes another push beyond $100,000, expectations are rising in the cryptocurrency market.
According to crypto analyst Michael Van de Poppe, "Bitcoin is grinding upwards to the crucial breakout level," and a break above $100,000 might result in a new ATH in January.
MicroStrategy, a Bitcoin development firm, intends to raise $2 billion in preferred stock offerings in the first quarter of 2025 to fuel additional Bitcoin purchases. Metaplanet, a Japanese investment firm, also announced plans to buy 10,000 BTC.
MicroStrategy could announce a fresh Bitcoin purchase today, Monday, according to a teaser tweet from cofounder Michael Saylor. Since late 2024, Saylor has tweeted a chart of the SaylorTracker about a day before disclosing new purchases, causing BTC prices to rise in anticipation but then fall when official announcements are made.
In December, the Federal Reserve dropped interest rates by a quarter percentage point but stated that there would be fewer rate cuts in 2025.