Bitcoin (BTC) has recently surpassed the $96,000 mark, reaching its highest level since the February correction. This upward movement is attributed to long-term momentum and increasing institutional adoption. Analysts suggest that Bitcoin is transitioning from a speculative asset to a core component in institutional portfolios.
The recent rally is also supported by significant inflows into Bitcoin ETFs. Notably, BlackRock's iShares Bitcoin Trust acquired nearly $1 billion worth of BTC, providing structural support for the price.
Despite these positive developments, some caution is advised. The U.S. economy's contraction in the first quarter, combined with rising inflation, has led to concerns about stagflation, which could impact risk assets like Bitcoin.
Looking ahead, various models predict that Bitcoin's price could reach between $120,000 and $210,000 by 2025, depending on market conditions and adoption rates.
As of now, Bitcoin is trading at approximately $96,918, reflecting a 3.15% increase from the previous close. The day's trading range has been between $93,696 and $96,918.
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