Bitcoin’s price has surged to a record high of $97,457, driven by ETF inflows and potential regulatory support. The ETH/BTC pair has hit a three-year low, delaying altcoin momentum. Analysts predict Bitcoin could reach as high as $135,000 by December, fueled by historical patterns and strong market demand.
Today, Bitcoin’s price has surged by 6%, reaching an all-time high of $97,457 and inching closer to the coveted $100,000 mark. This rally is driven by several factors, including significant inflows into Bitcoin ETFs, particularly led by BlackRock’s IBIT. Bitcoin’s dominance over altcoins has solidified, surpassing 60.5%, while Ethereum struggles at a three-year low against Bitcoin, indicating a possible delay in the anticipated altcoin season.
The surge in Bitcoin’s price can be attributed to multiple catalysts, notably discussions within Donald Trump’s team about establishing a White House position dedicated to cryptocurrency policies. Historical patterns also play a role; analysts observe that Bitcoin is following a four-year chart trajectory, predicting potential prices reaching $135,000 by December. These elements combine to create a bullish sentiment in the crypto market, enhancing Bitcoin’s position.
In conclusion, Bitcoin’s remarkable rise today reflects a confluence of robust demand, historical patterns, and potential regulatory developments. With market analysts predicting continued upward momentum, the focus remains on how Bitcoin can maintain its dominance while Ethereum and other altcoins struggle. As Bitcoin nears the $100K mark, its future appears bright, igniting excitement across the cryptocurrency landscape.
Original Source: coingape.com
