Bitcoin has surged 8.5% in 2025, breaking past $100,000 as the crypto market turns bullish ahead of Donald Trump's inauguration. Analysts are eyeing new all-time highs, with predictions ranging from $138,000 to $200,000 in the coming months. Notably, 90% of Bitcoin's supply is currently in profit, suggesting minimal drawdowns unless a "black swan" event occurs. Meanwhile, Bitcoin's Coinbase premium has returned to neutral, indicating renewed interest from US investors. However, retail transaction volumes have dipped, potentially opening long-term buying opportunities. Bitcoin's $100,000 level remains a crucial inflection point.