Bitcoin has reached the $100,000 price milestone, marking a historic moment for the cryptocurrency market following a year of remarkable growth.
On Dec. 5, Bitcoin (BTC) broke the psychological $100,000 barrier, just weeks after surpassing the $90,000 mark on Nov. 12, as reported by TradingView.
Shortly after, Bitcoin set a new all-time high of $104,000 at 3:08 a.m. UTC, roughly 90 minutes after breaking the $100,000 threshold.
The surge was fueled by over $31 billion in net inflows from U.S. spot Bitcoin exchange-traded funds (ETFs) and a tightened supply due to Bitcoin’s fourth halving in April.
Donald Trump’s Victory Boosts Bitcoin Rally
Republican Donald Trump’s victory in the U.S. presidential election contributed to Bitcoin’s momentum, alongside speculation of a strategic Bitcoin national reserve and increased corporate adoption led by MicroStrategy’s Michael Saylor.
Additionally, Trump’s Dec. 4 nomination of crypto advocate Paul Atkins to replace Gary Gensler as SEC chair has sparked optimism.
This move could eliminate regulatory barriers that have hindered the crypto sector under the Biden administration.
Trump’s pro-crypto cabinet includes Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick as nominees for Secretary of Treasury and Commerce, respectively, potentially creating the most crypto-friendly administration to date.
Bitcoin Up 126% in 2024
Bitcoin’s value has increased by 126% since Jan. 1, when it traded at $44,000.
Its market capitalization has now reached a record $2 trillion for the first time.
While Bitcoin’s 2024 rally is impressive, it isn’t its most dramatic.
In 2017, Bitcoin soared 1,900%, rising from $1,000 in January to $20,000 in December.
Similarly, between March 2020 and November 2021, it surged 1,250%, climbing from $5,100 to $69,000.
