$BTC

Bitcoin (BTC) has recently achieved a historic milestone, surpassing the $100,000 mark for the first time. This surge is attributed to several factors, including the election of President-elect Donald Trump, who is anticipated to implement crypto-friendly policies. Notably, Trump’s nomination of Paul Atkins, a pro-crypto figure, to lead the Securities and Exchange Commission (SEC) has bolstered market confidence. 

Institutional adoption has also played a significant role in Bitcoin’s ascent. MicroStrategy, for instance, has expanded its Bitcoin holdings to 423,650 coins, representing over 2% of the total supply. 

Despite this remarkable growth, Bitcoin’s price has experienced fluctuations, with psychological resistance observed around the $100,000 level. Analysts suggest that long-term holders may be selling at this point, creating a barrier similar to past resistance levels. 

Looking ahead, experts predict that Bitcoin could reach $120,000 by early 2025, driven by favorable regulatory changes and increased mainstream adoption. However, they also caution about potential profit-taking and market volatility. 

As of December 11, 2024, Bitcoin is trading at approximately $98,465, reflecting its dynamic nature and the various factors influencing its valuation.