Cryptocurrency surge: Bitcoin exceeds $100,000 mark, rallying on positive signs from U.S.-U.K. trade agreement.
Bitcoin's price is blastin' past the $100,000 mark for the first time since January, all thanks to a sweet US-UK trade deal that's got the markets feelin' mighty optimistic. Now, by late afternoon today, Bitcoin was up by 0.1%, settling at $103,271.80. That's some serious cash!
This takes 2025 gains to around 10.5% and has Bitcoin at its highest level since 22 January when it was hoovering around $105,559. Fun fact: January's peak was followed by a rough patch for Bitcoin investors, with the price plummeting as low as $75,000 by early April. But fear not, because since then, Bitcoin's found its wings again, thanks to regulatory tailwinds, high ETF volumes, and a hint of easing trade tensions.
Other major cryptocurrencies, like Ethereum, are also in on the party, with Ethereum up 7% for the day but still down by a third since the start of the year at $1,770.31. The ride's a bit bumpy, but Bitcoin's hangin' tough.
Now, the price of Bitcoin is highly volatile, and anyone hoppin' on board better be prepared for some rollercoaster rides. Since the start of 2025, Bitcoin's up over 10%, but still short of its November 2024 peak.
Bitcoin's IPO holding company—yep, that's a thing—saw its shares double just two weeks ago, according to Matt Basi, managing director of London Capital Group. He also pointed to falling global interest rates and renewed institutional interest as other reasons why Bitcoin's on the rise.
Simon Peters, a crypto analyst at eToro, thinks the $100,000 threshold is important for Bitcoin, given it's acted as a resistance level in the past. He warns that when it reached this level for the first time back in November 2024, there was substantial selling, with the price dropping sharply to $90,000 in a few days.
But don't fret, Peters thinks this will be short-lived, and the Bitcoin price should break and stay above $100,000 going forward into the second half of 2025 and early 2026. This, he believes, will lead to a new all-time high and the peak of the crypto bull market.
However, if the Bitcoin price happens to peak, say, at $150,000, $200,000, or even $250,000, and we see a big drawdown in the following year, there's a chance we might see $100,000 again, according to Peters. But, in his opinion, this would mark the major bottom or end of the ensuing bear market.
So, there you have it! Buckle up as we ride the Bitcoin waves and see where they take us. Just remember: crypto isn't for the faint-hearted!
Sources:
- Bitcoin Price and Global M2 Money Supply Correlation
- Institutional Investment in Bitcoin Growing
- Trade Tensions Easing Impact on Bitcoin
- Cryptocurrency Market Dynamics and Bitcoin's Performance
- High-end investments such as mortgages could potentially become more accessible with Bitcoin's price surge past $100,000, evoking a new dynamic in finance and investing.
- As Bitcoin's price breakthrough signals optimism in the cryptocurrency market, some experts advocate that investing in technology stocks could alsoBenefit from these tailwinds.
- Despite the price volatility of Bitcoin, the eagerness amongst institutional investors to invest in it has grown, as evident by the rapid rise of crypto ETF volumes.
- The double in value of Bitcoin's IPO holding company's shares in recent weeks has undoubtedly emphasized cryptocurrencies as an attractive investment avenue.
- As the crypto market matures and institutional investment increases, there's a potential for other digital currencies like Ethereum to surpass their current levels and hit new highs, akin to Bitcoin's journey beyond $100,000.
