📈 Current Bitcoin Price
🚀 Price: ~$104,572
Daily Change: Slight decrease of 0.75%
Trading Range: $104,505 – $105,916
Market Capitalization: ~$2.12 trillion
🔥 Key Factors Driving Bitcoin Price Up:
1. Limited Supply
Maximum total supply: 21 million BTC
2. This scarcity creates upward price pressure when demand increases.
3. Halving (Block Reward Reduction)
- Most recent halving: April 2024
- After each halving, new supply decreases, usually leading to price increases in previous cycles.
4. Adoption by Major Financial Institutions
- MicroStrategy currently holds about 580,955 BTC, worth over $61 billion.
- Bitcoin ETFs like ARK 21Shares Bitcoin ETF (ARKB) have been approved by the SEC, making it easier for investors to access.
5. Inflation Hedge
Bitcoin is considered "digital gold," helping protect assets amid rising inflation.
6. Positive Market Sentiment
The Fear & Greed Index is currently at 64 (Greed), indicating a positive market mood.