#BTCBackto100K Bitcoin has indeed surged past $100,000, reaching a high of $101,525. This milestone comes amid optimism over US-UK trade talks and renewed institutional demand. Here are some key factors contributing to the rally ¹ ²:

- *Trade Deal Optimism*: The US-UK trade deal announcement has boosted market sentiment, driving Bitcoin's price up.

- *Institutional Demand*: Spot Bitcoin exchange-traded funds saw $142 million in net inflows, signaling renewed interest from institutional buyers.

- *Federal Reserve's Decision*: The Fed's decision to hold interest rates steady has removed a key uncertainty for risk assets.

- *Correlation with Gold*: Bitcoin's 30-day Pearson correlation coefficient with gold has risen to 0.61, indicating a growing relationship between the two assets.

Some experts predict Bitcoin's price will continue to rise, with targets including ²:

- *$120,000*: Standard Chartered's digital asset chief, Geoff Kendrick, reiterated his year-end target, calling it "possibly too conservative" given current market trends.

Keep in mind that cryptocurrency markets are highly volatile, and prices can fluctuate rapidly.