#BTC Bitcoin (BTC) surged past the long-anticipated $100,000 milestone on Thursday, reaching a high of $101,525 and triggering a rally across meme coins, AI tokens, and major altcoins in the top 100 by market capitalization.
This sharp rise forced bearish traders to the sidelines, with over $118 million in short positions liquidated in the last 24 hours, according to #coinglass Coinglass. Meanwhile, open interest in Bitcoin futures climbed 7%, surpassing $70 billion, signaling renewed trader confidence and market momentum.
Key Catalysts Behind #BTC Bitcoin's Rally
Three primary factors are propelling Bitcoin’s ascent:
US-UK Trade Deal: The announcement of a finalized trade agreement between the United States and the United Kingdom boosted global investor sentiment.
US-UK Trade Deal: The announcement of a finalized trade agreement between the United States and the United Kingdom boosted global investor sentiment.
Growing Optimism Among Traders: Bullish sentiment continues to rise on the back of strong institutional inflows and retail participation.
Bitcoin-Gold Correlation: BTC is increasingly being viewed as a store of value, with its 30-day Pearson correlation coefficient with Gold rising to 0.61, according to The Block.
Market Technicals Support the Bullish Momentum
On the 15-minute BTC/USDT chart, key momentum indicators confirm the strength of the rally:
The Moving Average Convergence Divergence (MACD) is flashing green histogram bars above the neutral line.
The Relative Strength Index (RSI) is currently at 66, indicating bullish, but not yet overbought, conditions.
Together, these indicators point to sustained positive momentum in Bitcoin’s price trajectory.
Expert Commentary: Macro Drivers at Play
Ryan Lee, Chief Analyst at #Bitget Bitget Research, attributed the surge to macroeconomic tailwinds. He noted:
"Bitcoin's climb past $100K is largely driven by expectations of Federal Reserve rate cuts and former President Trump’s vocal push for lower interest rates. While these factors bolster risk assets, uncertainty remains due to the Fed’s dual mandate of managing inflation and unemployment. Political influence from Trump may fuel optimism but doesn't guarantee policy shifts. Strong institutional demand, ETFs, and whale accumulation support the rally, though volatility could re-emerge near this psychological level.”
Outlook
While breaking the $100K level was a symbolic victory for Bitcoin, analysts caution that profit-taking and tariff-related volatility could pose short-term hurdles. A sustained move beyond $100K, however, may depend on continued dovish economic signals and geopolitical stability.
As Bitcoin’s role in global finance expands, its correlation with traditional assets like gold—and its responsiveness to policy and trade developments—continues to deepen
