As an analyst, I’m observing a significant surge in the value of Bitcoin, the pioneering cryptocurrency by market cap, which seems poised to break through the $100,000 mark for the first time in 2025. This impressive six-day climb is a testament to Bitcoin’s strong start this year, as it gathers momentum amidst an optimistic wave sweeping across the digital currency market.
As I pen down these words, Bitcoin is seeing a 1.27% surge over the past 24 hours, trading at an impressive $99,021. It even touched intraday highs of $99,888, just under the coveted $100,000 threshold. This digital coin started its upward trend from a low of $91,887 on December 31, and it’s been climbing ever since, marking six consecutive days of growth. If today ends positively, we can look forward to Bitcoin achieving its seventh straight day of gains.
On December 17, 2024, Bitcoin peaked at an unprecedented level of $108,268. Yet, this surge didn’t last long as it appeared that investors were cashing in their profits towards the end of the year and due to anticipation of more aggressive interest rate hikes by the Federal Reserve.
With Bitcoin breaking past the $100,000 mark, there’s a surge in optimism within the digital currency sector.
As per crypto expert Michael van de Poppe’s analysis, Bitcoin could be pushing towards a significant turning point, potentially reaching beyond $100,000, which if broken, might set a new All-Time High (ATH) in the month of January.
What’s happening?
In simple terms, MicroStrategy, a company specializing in Bitcoin development, aims to gather $2 billion by selling preferred stocks in the first quarter of 2025. This funds raised will be used for more Bitcoin acquisitions. Meanwhile, Metaplanet, a Japanese investment group, has declared its intention to purchase 10,000 Bitcoins.
It’s possible that MicroStrategy might make a new Bitcoin acquisition today, Monday, as hinted by a suggestive tweet from co-founder Michael Saylor. In the past, Saylor has shared a chart via his Twitter account, typically the day before revealing fresh purchases. This chart is tracked by SaylorTracker, and it has been noticed that BTC prices often increase in expectation but then decrease once the official announcement is made.
On the economic stage, investors will closely monitor upcoming discussions among officials in January regarding monetary policy adjustments. According to the CME FedWatch Tool, market participants betting on the Fed funds futures market expect no change in rates at the next gathering. In December, the Federal Reserve reduced interest rates slightly by a quarter point, but they hinted at fewer rate reductions in 2025.
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2025-01-06 14:51