Bitcoin has made a strong comeback, surging back into the $100K range with an impressive 4.06% gain in just one day. This marks a significant rally for the leading cryptocurrency, which has already grown by 6.65% since the start of 2025. However, the broader crypto market has only grown by 2.9% in the last 24 hours, indicating that Bitcoin’s latest rally is outpacing its peers.
The journey to $100K for Bitcoin has been a wild ride. While the cryptocurrency first crossed the $100K mark on December 5, 2024, hitting an all-time high of $108,369.05 on December 17, it faced a correction of 9.4% between January 7 and 9. Despite this dip, Bitcoin managed to rebound, with a remarkable 6.30% rise from January 14 to 15, bringing it back to the $100K level. As of now, Bitcoin is priced at $99,784.47, just shy of its peak.
Several key factors are influencing the crypto market’s recent growth. With Donald Trump set to take office as U.S. president on January 20, 2025, there is optimism that his administration will introduce policies to support the growth of the cryptocurrency market. Lower inflation rates in the U.S., coupled with speculation that the Federal Reserve might reconsider its stance on interest rates, have also sparked optimism among investors.
Additionally, a ceasefire and hostage agreement between Israel and Hamas, announced on January 15, is expected to bring peace to the Middle East region. This development has had a positive impact on market sentiment. Furthermore, there has been a growing confidence among Bitcoin whales, with an increase in the number of wallets holding 10 or more BTC, indicating strong backing for the cryptocurrency.
Bitcoin’s rise above $100K signals a positive start to 2025, with favorable macroeconomic factors and positive on-chain signals supporting its growth. As the year progresses, Bitcoin remains in a solid position to continue its upward trajectory.
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