The biggest cryptocurrency Bitcoin (BTC) $102,673.0Today, it exceeded the 100 thousand dollar threshold and reached a historical level. Bitcoin rose to this level for the first time since its launch nearly 15 years ago. Reaching its all-time high of $103,670, Bitcoin increased its market value to $2 trillion. However, although it was seen to fall below 102 thousand dollars during Asian trading hours as investors took profits, it is currently moving upwards again.
Institutional Demand and ETF Inflows Support Bitcoin
in the USA spot Bitcoin ETF‘s broke a record with a net inflow of $533 million on Wednesday. Especially BlackRock‘s IBIT ETF attracted attention by exceeding the $50 billion net asset level for the first time. Analysts state that this rise of Bitcoin will increase institutional demand and attract more investors.
Presto Research investment analyst Min Jung“Defining Bitcoin as digital gold and appointing Paul Atkins as SEC chairman BTCIt accelerates the growth of . “With the increase in market value, large corporates also have the opportunity to make meaningful investments,” he said.
COO of BTSE Jeff Mei He stated that he sees this development as a turning point in the sector. Mei said, “The increasingly positive regulatory environment in the USA was effective in Bitcoin exceeding the 100 thousand dollar level. “The appointment of Paul Atkins as SEC secretary could attract more institutional investment into the sector,” he said.
Will the Rise Continue? Opinions of Experts
Some market experts suggest that Bitcoin reaching $100,000 could mean the market has peaked. However, on-chain data and macroeconomic indicators show that the rise may continue. LVRG Research Director Nick Ruck“Bitcoin’s rapid rise is increasing media attention even as long-term investors reduce their positions. “This may trigger new purchases,” he said.
Additionally, seasonal positivity and demand for ETFs specific to the Christmas holiday period may support the price to rise further. However, experts warn that volatility may be high at this level and investors should act carefully.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
