Bitcoin Breaks $94,000 for the First Time!

On Wednesday (November 20), Bitcoin surged to a historic high of over $94,000, following reports that Donald Trump's social media company is negotiating to acquire the cryptocurrency trading company Bakkt, which has raised hopes for a cryptocurrency-friendly regime under the Trump administration.

As the largest and most well-known cryptocurrency in the world, Bitcoin has more than doubled in value this year. As of the time of writing, it is priced at $92,057, having earlier touched a record high of $94,057. Since the U.S. presidential election on November 5, Bitcoin's price has been on a steady rise, as traders believe that President-elect Trump's commitment to support digital assets will lead to less regulatory constraints, invigorating cryptocurrencies like Bitcoin.

This week, there have been several positive developments in the cryptocurrency market. According to media reports on Monday (November 18), citing informed sources, the Trump Media and Technology Group intends to acquire the cryptocurrency trading platform Bakkt, which is owned by Intercontinental Exchange (ICE), entirely in stock. This news boosted Bakkt's stock price and also lifted Bitcoin's price.

Additionally, the Nasdaq Exchange announced on Monday that the options for the BlackRock-managed iShares Bitcoin Trust ETF (IBIT) will be listed on Tuesday (November 19). Commenting on Bitcoin's new highs this week, IG market analyst Tony Sycamore attributed it to the favorable news from Trump's negotiation talks and the optimistic sentiment brought by the debut of BlackRock's spot Bitcoin ETF options products.

Moreover, according to data from the analytics firm CoinGecko, this growing excitement has pushed the global cryptocurrency market value above $3 trillion, hitting a historic high. Chris Weston, head of research at Australian online broker Pepperstone, noted that there is indeed potential buying momentum for Bitcoin, stating, "If Bitcoin rises again, it should attract those who like to buy strong stocks to chase it in a new round." #BTC何时突破10万？