This morning (21st), Bitcoin wrote a new historical high price on the Coinbase platform, breaking $95,000 for the first time. This surge continues the market boom after the US elections, with Bitcoin soaring over 40% in the past month, and a cumulative increase of more than 105% since the beginning of the year.
Anchorage Digital CEO Nathan McCauley stated: 'With the launch of Bitcoin ETF options, we are witnessing not only the maturation of the cryptocurrency ETF market but also Bitcoin's formal entry into the ranks of mainstream institutional investment assets such as stocks, bonds, and commodities.'
This week, Bitcoin spot ETF options officially opened for trading. The 'iShares Bitcoin Trust Fund (IBIT)' under BlackRock was the first to start, followed by Bitwise and Grayscale joining the competition.
The debut of ETF options amazed the audience, and market confidence surged.
According to data shared by Bloomberg ETF analyst James Seyffart, the first day trading volume of IBIT options approached $1.9 billion, completing 354,000 contracts, of which 'call options' accounted for 289,000; while 'put options' only accounted for 65,000.
James Seyffart pointed out: 'It is almost certain that these options trades are the main driving force pushing Bitcoin to set a historical high.'
Bitcoin's recent surge can be traced back to November 5, when Trump (Donald Trump), who supports cryptocurrencies, defeated Vice President Kamala Harris and successfully became the next President of the United States.
It is rumored that Trump's team is considering establishing a position specifically responsible for managing cryptocurrency policy, which would be an unprecedented step for the White House.
The $100,000 target is within reach
Market expectations for 'Bitcoin breaking $100,000' are rising, and the industry generally believes that this milestone may be achieved in the next one to two months. Tides.Network CEO Chandra Duggirala stated:
We have not yet seen a strong FOMO (fear of missing out) sentiment from investment managers, and retail investors are just beginning to pay attention to this market. I believe that true FOMO and frenzy will come after Bitcoin breaks $100,000.
IG Australia market analyst Tony Sycamore stated:
Buyers have almost suppressed sellers. Although the process of Bitcoin approaching $100,000 will not be smooth, market demand is clearly strong at the moment.
In addition, MicroStrategy, the publicly traded company that holds the most Bitcoin globally, announced that its recently issued convertible bonds amount to $2.6 billion, an increase of 50% from the previously announced $1.75 billion. This funding is mainly used to purchase Bitcoin. The company currently holds approximately $31 billion in Bitcoin assets.
Policy commitments pave the way for the future
Trump has promised to build a regulatory framework in the US that supports cryptocurrencies and plans to establish a 'national Bitcoin reserve'. Whether this strategy can be implemented remains to be seen. However, it is certain that Trump's stance on cryptocurrency has significantly changed, closely related to the heavy lobbying by cryptocurrency companies during the campaign.
The market will closely watch how these policies affect Bitcoin's future development, and whether Bitcoin can break $100,000 in the short term will become a major focus of the cryptocurrency market.
