$BTC Bitcoin is currently trading above $102,000, demonstrating a strong recovery and bullish momentum. This resurgence is supported by a confluence of factors, including increasing institutional investment, which signals growing confidence in Bitcoin as a legitimate asset class. Major players like MicroStrategy and BlackRock have significantly increased their Bitcoin holdings, contributing to market stability and positive sentiment.

Furthermore, favorable regulatory developments, such as the recent legislation in two US states allowing for state-level Bitcoin reserves and the approval for US banks to trade and custody crypto assets, provide a more secure and accessible environment for investors. These policy shifts enhance Bitcoin's appeal as a strategic financial asset and inflation hedge.

Positive macroeconomic factors, including potentially improving global trade relations evidenced by the US-UK trade deal, also play a role in this upward trend. Easing market anxieties through such agreements can encourage investment in risk-on assets like Bitcoin.

Technological advancements within the Bitcoin network, aimed at improving scalability and security, further bolster its long-term value proposition. The capped supply of 21 million coins inherently creates scarcity, which, coupled with rising demand, can exert upward pressure on the price. Market sentiment, often influenced by news and influential figures, also contributes to Bitcoin's price volatility and growth.