$BTC

As of January 7, 2025, Bitcoin (BTC) is trading at approximately $102,001, reflecting a 2.66% increase over the previous day.

This marks a significant recovery from its recent dip to $92,000 during the holiday season, and it's approaching its mid-December peak of over $108,000.

Several factors are contributing to Bitcoin's current performance:

Institutional Investments: MicroStrategy, a business-software company, continues to expand its Bitcoin holdings. As of January 5, 2025, the company owns approximately 447,470 bitcoins, acquired at an aggregate purchase price of about $27.97 billion. They plan to raise an additional $2 billion through issuing preferred stock to purchase more Bitcoin.

Market Sentiment: Investor optimism is influenced by expectations of favorable cryptocurrency policies from the incoming Trump administration. This sentiment has contributed to increased demand and higher prices.

Exchange-Traded Funds (ETFs): Significant inflows into spot Bitcoin ETFs have been observed, with $908.1 million added on a recent Friday, reversing prior outflows. These inflows likely pushed up Bitcoin demand and prices.

In addition to Bitcoin, other cryptocurrencies like Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE) have also experienced gains, reflecting a broader positive trend in the crypto market.

Please note that cryptocurrency markets are highly volatile, and prices can change rapidly. It's advisable to consult multiple sources and consider your financial situation before making investment decisions.