The recent surge in Bitcoin’s price to around $81,000 is due to several important factors. First, the increased demand comes as a result of investors’ optimism about the possibility of approving a Bitcoin exchange-traded fund (ETF) in the United States, especially after major companies such as BlackRock submitted applications for approval of such funds. These funds enhance the opportunities for financial institutions to invest in Bitcoin, which contributes to raising its value through increased demand and large investment inflows.
Secondly, the Bitcoin market is witnessing increasing interest from investors due to expectations that Bitcoin may reach new records, especially since more than 98% of Bitcoin holders are now making profits, which increases confidence in it as a profitable investment asset. Also, expectations that Bitcoin may reach levels exceeding $100,000 in the future seem optimistic given the current market conditions, but this remains subject to many economic and regulatory factors.
The global market is also always looking for safe haven assets away from the volatility of traditional currencies, which enhances the attractiveness of Bitcoin in this context.