Bitcoin has surged again, breaking through $97,000 during today's (21st) Asian trading session, just 2.5% away from the $100,000 mark. Since the beginning of this year, Bitcoin's price has more than doubled, and in just two weeks after Trump's election, it surged by 40%, with market excitement skyrocketing.
According to CoinGecko's quotes, Bitcoin has today first broken through $97,000, peaking at $97,581, continuing to set new historical highs, with a 24-hour increase of 5.5%.
Cryptocurrency-friendly policies become a 'catalyst'
Trump publicly supported cryptocurrency during his campaign, vowing to make the United States the 'global cryptocurrency capital' and planning to establish a 'national Bitcoin reserve' to position the U.S. as a leader in the digital finance sector.
This vision has ignited market enthusiasm for cryptocurrency. Since the election, more than $4 billion has flowed into Bitcoin spot ETFs listed in the U.S., becoming a strong driving force behind Bitcoin's price surge.
The market generally believes that favorable policy effects will become a catalyst for Bitcoin's further breakthroughs. Analysts point out that if the Trump administration successfully implements these plans, Bitcoin will not only be a speculative asset but also play an important role as a national reserve.
Earlier this week, BlackRock's Bitcoin spot ETF (IBIT) launched options trading, which has been exceptionally active. According to data, the trading volume of call options (bullish options) far exceeds that of put options (bearish options), indicating that investors remain bullish on Bitcoin, further consolidating market confidence.
Despite Bitcoin's impressive momentum, the market remains cautious about whether the Trump administration can introduce a long-term stable regulatory framework for cryptocurrency. WisdomTree's head of digital assets, Will Peck, stated:
Everyone is looking forward to this administration bringing much-anticipated regulatory clarity to the cryptocurrency industry. However, it may still be too early to draw conclusions.
Will Peck also emphasized that this market frenzy is not only beneficial for Bitcoin and cryptocurrency but will also drive the development of the entire blockchain ecosystem.
Analysis: Can Bitcoin continue to break through?
Analysts generally believe that $100,000 is the next important psychological barrier for Bitcoin and a key step in confirming Bitcoin's ascent to mainstream asset status. If this feat is achieved, Bitcoin's market value will exceed $2 trillion, becoming the focus of global capital competition.
IG market analyst Tony Sycamore stated: 'The demand for Bitcoin is clearly very strong. Even though the journey may be a bit bumpy, it is still advancing towards the $100,000 target.'
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