As risk appetite in the financial markets heats up again, Bitcoin is once again approaching the $100,000 mark.
Due to Trump's tariff policies triggering a sharp decline in the stock and digital asset markets, Bitcoin has faced downward pressure in recent weeks. On January 20, the day Trump was inaugurated as the U.S. president for the second time, Bitcoin's price hit an all-time high of approximately $109,000, before dropping as much as 30%.
Bitcoin briefly rose 3.1% to $97,483, the highest level since February 21. The last time Bitcoin reached $100,000 was on February 7. Many smaller tokens saw even larger gains on Thursday, with Dogecoin rising 4.8% and Ethereum increasing by 3.3%.
This round of Bitcoin's rise is accompanied by an increase in the spot market, while demand for derivatives commonly used for leverage remains sluggish, indicating that Bitcoin's price has shifted from being driven by macroeconomic factors such as inflation and tariffs to being driven by momentum trading.
Last week, inflows into Bitcoin and Ethereum exchange-traded funds (ETFs) exceeded $3.2 billion.
Due to Trump's tariff policies triggering a sharp decline in the stock and digital asset markets, Bitcoin has faced downward pressure in recent weeks. On January 20, the day Trump was inaugurated as the U.S. president for the second time, Bitcoin's price hit an all-time high of approximately $109,000, before dropping as much as 30%.
Bitcoin briefly rose 3.1% to $97,483, the highest level since February 21. The last time Bitcoin reached $100,000 was on February 7. Many smaller tokens saw even larger gains on Thursday, with Dogecoin rising 4.8% and Ethereum increasing by 3.3%.
This round of Bitcoin's rise is accompanied by an increase in the spot market, while demand for derivatives commonly used for leverage remains sluggish, indicating that Bitcoin's price has shifted from being driven by macroeconomic factors such as inflation and tariffs to being driven by momentum trading.
Last week, inflows into Bitcoin and Ethereum exchange-traded funds (ETFs) exceeded $3.2 billion.
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BTC
97,145.29
+0.72%