#OnChainLendingSurge

As of January 9, 2025, Bitcoin (BTC) is trading at approximately $93,931, reflecting a slight decrease of about 0.97% over the past 24 hours.

The 24-hour trading volume stands at around $63.7 billion, indicating sustained investor interest. Bitcoin's market capitalization is approximately $1.86 trillion, maintaining its position as the leading cryptocurrency by market cap.

In December 2024, Bitcoin surpassed the $100,000 milestone, driven by optimism surrounding U.S. President-elect Donald Trump's pro-crypto stance and plans to bolster the U.S. as a cryptocurrency hub.

However, recent positive U.S. labor market data has tempered expectations for Federal Reserve interest rate cuts, leading to a decline in Bitcoin's price. Lower interest rates typically benefit risk-on assets like Bitcoin by increasing available investment capital and making bond yields less attractive.

Investors should remain aware of Bitcoin's inherent volatility and the various factors influencing its market performance.