1. Bitcoin (BTC) Price and Current Performance:
* Remains close to its all-time highs: Bitcoin is trading around $109,000 - $110,000 USD. Although it has touched $110,400 and even $112,000 recently, it has seen small fluctuations in the last 24 hours (some sources indicate a slight drop of 1-2%, while others show a small overall increase).
* Recent Performance: In the last week, Bitcoin has risen approximately 3.5% to 4.2%, and in the last month, the increase is around 4.6% to 7%. In the last year, BTC has gained more than 50% to 60%.
* Market Capitalization: The market capitalization of Bitcoin hovers around $2.15 - $2.17 trillion USD.
2. Market Sentiment and Analysis:
* Bullish Sentiment: Market sentiment towards Bitcoin is predominantly positive ("greed") and has reached a seven-month high. This is partly due to recent price movements and overall optimism.
* Analyst Projections: Several analysts and banks like Bernstein project that Bitcoin could reach $200,000 by 2025. Others see a short-term target of $135,000.
* Driving Factors:
* Favorable Economic Data: The Consumer Price Index (CPI) report in the U.S. showed an annual inflation of 2.4%, which is seen as good news for investors and could prompt the Federal Reserve to consider interest rate cuts.
* Institutional and Political Backing: Bitcoin continues to gain institutional and political support. Major banks are offering custody services and Bitcoin ETFs are actively buying BTC daily.
* Corporate Purchases: Companies like MicroStrategy continue to acquire Bitcoin, increasing their significant holdings.
3. Impact of the 2024 Halving (Context):
* The last Bitcoin halving occurred on April 20, 2024, reducing the block reward to 3.125 BTC.
* One year after the halving, although the returns have been more "moderate" than in previous cycles, the fundamentals of Bitcoin seem stronger than ever, with an increase in its market dominance and growing acceptance by institutional investors.