Crypto Price Today: Bitcoin Surges Past $100,000 as Market Momentum Builds
Bitcoin crosses $100,000 for the second time this month.
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Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 12 December 2024 14:28 IST
Highlights
Tether, Solana saw losses
USD Coin, EOS Coin also trading in losses
Uniswap, Litecoin, Leo joined BTC’s rally
Crypto Price Today: Bitcoin Surges Past $100,000 as Market Momentum Builds
The valuation of the sector reached $3.65 trillion
Photo Credit: Pixabay/ WorldSpectrum
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Bitcoin on Thursday, December 12 reached the price point of $101,014 (roughly Rs. 85.7 lakh) on global exchanges. At the time of writing, data by CoinMarketCap showed that the price of BTC grew by 3.66 percent over the last 24 hours. This is the second time this month that the most expensive cryptocurrency has historically surpassed the $100,000 (roughly Rs. 84.8 lakh) price mark. On Indian exchanges like Giottus and CoinSwitch – BTC grew in price by over three percent to trade at $100,727 (roughly Rs. 85.4 lakh). Since its 2009 launch, Bitcoin has come a long way from trading at just $0.10–$0.20 (roughly Rs. 8.50–Rs. 16.9) in October 2010.
“Expectations of a 25-basis-point rate cut in the upcoming Fed meeting, following positive CPI data, boosted the market sentiment. Bitcoin faces its next resistance at $103,500 (roughly Rs. 87.8 lakh) and support standing at $98,400 (roughly Rs. 83.5 lakh),” Edul Patel, CEO of Mudrex told Gadgets360, explaining BTC's spike.
Following Donald Trump's victory in the US elections, the crypto market, led by Bitcoin, saw a significant surge. On December 5, Bitcoin crossed the $100,000 mark for the first time in its history. That same week, reports emerged about US SEC Chair Gary Gensler being set to step down in 2025 under Trump's administration. Gensler, known for his crypto-skeptic stance, has been a central figure in regulatory crackdowns on firms like Kraken, Binance, and Coinbase.
