Bitcoin has once again surged with astonishing momentum, today (21st) breaking through $97,000 in the Asian market, just 2.5% away from the $100,000 mark. Since the beginning of this year, the price of Bitcoin has skyrocketed more than double, and within just two weeks of Trump's election, the increase has reached 40%, with market excitement soaring.
According to CoinGecko's market quotes, Bitcoin today first broke through $97,000, reaching a high of $97,581, continuing to set new historical highs, with a 24-hour increase of 5.5%.
Cryptocurrency-friendly policies become a 'catalyst'
Trump publicly supported cryptocurrencies during his campaign, vowing to make the U.S. the 'global cryptocurrency capital' and planning to establish a 'national Bitcoin reserve' to position the U.S. as a leader in the digital finance sector.
This vision has ignited market enthusiasm for cryptocurrencies. Since the election, more than $4 billion has flowed into Bitcoin spot ETFs listed in the U.S., becoming a powerful booster for Bitcoin's price surge.
The market generally believes that the favorable effects of policies will become a catalyst for Bitcoin to break through further. Analysts point out that if the Trump administration successfully implements these plans, Bitcoin will not only be a speculative asset but will also play an important role as a national reserve.
Earlier this week, BlackRock's Bitcoin spot ETF (IBIT) launched options trading, which has been exceptionally active. According to data, the trading volume of call options (bullish options) far exceeds that of put options (bearish options), as investors remain bullish on Bitcoin, further solidifying market confidence.
Despite Bitcoin's soaring momentum, the market is also cautiously watching whether the Trump administration can introduce a long-term stable regulatory framework for cryptocurrencies. WisdomTree's digital asset director Will Peck stated:
Everyone is looking forward to this government bringing the long-awaited regulatory clarity to the cryptocurrency industry. However, it may still be too early to draw conclusions.
Will Peck also emphasized that this market boom is not only beneficial for Bitcoin and cryptocurrencies, but will also drive the development of the entire blockchain ecosystem.
Analysis: Can Bitcoin continue to break through?
Analysts generally believe that $100,000 is the next important psychological barrier for Bitcoin and a key step in confirming Bitcoin's status as a mainstream asset. If this feat is achieved, Bitcoin's market capitalization will surpass $2 trillion, becoming the focus of global capital competition.
IG market analyst Tony Sycamore stated: 'The demand for Bitcoin is clearly very strong, and even though the process may be somewhat bumpy, it is still advancing towards the $100,000 target.'
