U.At present – the primary and largest cryptocurrency by market capitalization – is approaching $100,000 for the primary time in 2025 after a powerful six-day rally. Bitcoin has gotten off to an exceptional begin this yr, gaining momentum as optimism spreads throughout the crypto market.

On the time of writing, Bitcoin is up 1.27% previously 24 hours to $99,021, simply shy of $100,000, after hitting an intraday excessive of $99,888. Bitcoin began rising from a low of $91,887 on December thirty first and continued to rise into the brand new yr. Bitcoin has recorded six consecutive days of positive factors since at the present time, with at present being the seventh day assuming it ends within the inexperienced.

Bitcoin hit an all-time excessive of $108,268 on December 17, 2024. Nonetheless, the positive factors shortly disappeared on account of year-end profit-taking and the Fed's hawkish rate of interest forecast.

As Bitcoin additional crosses the $100,000 mark, expectations are rising within the cryptocurrency market.

In response to cryptocurrency analyst Michael Van de Poppe, “Bitcoin has risen to an necessary breakout degree” and above $100,000 might set off a brand new ATH in January. It’s mentioned that there’s.

what's occurring?

Bitcoin developer MicroStrategy plans to boost $2 billion in most well-liked inventory within the first quarter of 2025 to facilitate further Bitcoin purchases. Japanese funding firm Metaplanet additionally introduced plans to buy 10,000 BTC.

MicroStrategy could announce new Bitcoin purchases at present, Monday, based on a teaser tweet from co-founder Michael Saylor. Since late 2024, Saylor has tweeted the Saylor Tracker chart a few day earlier than saying new purchases, inflicting BTC costs to rise in anticipation, however then fall as soon as the official announcement was made.

On the macroeconomic entrance, buyers can be keenly watching as officers meet once more in January to make financial coverage selections. Merchants within the federal funds futures market count on rates of interest to be suspended on the subsequent assembly, the CME FedWatch software experiences. The Fed lower rates of interest by 1 / 4 of a share level in December, however mentioned it will lower charges much less usually in 2025.

This text was initially printed on U.At present