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- Institutional inflows, like BlackRock’s Bitcoin ETF, have propelled BTC’s rise above $100K.
- Regulatory shifts and Putin’s support for BTC add momentum to its ongoing market surge.
Bitcoin [BTC] has crossed the $100,000 mark, achieving a major milestone for the crypto market. The price surge has drawn attention to factors such as institutional interest, regulatory developments, and global support for digital assets.
Below, we explore the main reasons behind this rise.
Bitcoin market data reflects strong momentum
As of press time, Bitcoin was trading at $102,570 with a 24-hour trading volume of $141.34 billion. Over the last 24 hours, its price has risen by 6.19%, while a 6.78% gain has been recorded over the past week.
Bitcoin’s market capitalization now stands at $2.01 trillion, based on a circulating supply of 20 million BTC.
Bitcoin’s trading range over the last day spanned between $94,870 and $103,679, marking a new all-time high of $103,679. BTC exchange reserves have also been falling, indicating reduced selling activity.
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