Bitcoin Price Today Hits Record High on Trump Optimism
Bitcoin price today (BTC/USD) surged to an all-time high of $97,792.6, fueled by optimism over Donald Trump’s presidential election victory and the recent launch of options for the iShares Bitcoin Trust ETF. The rally extended Bitcoin’s dominance as it approaches the much-anticipated $100,000 milestone.
Bitcoin Hits $97,792.6 on Pro-Crypto Sentiment
The prospect of friendlier crypto regulations under Trump’s leadership has invigorated the market. His campaign promises to position the United States as the global crypto capital have sparked a wave of enthusiasm among investors.
Adding to this momentum, the launch of options trading on BlackRock’s iShares Bitcoin Trust ETF earlier this week brought nearly $1.9 billion in notional exposure, further boosting Bitcoin’s price.
Bitcoin Nears $100k Milestone
Bitcoin’s current trading level of $96,909.4, though slightly off its peak, has analysts speculating it could break the $100,000 barrier soon. However, the crypto has entered overbought territory, raising concerns about a potential price correction as traders may lock in recent gains.
How Other Cryptos Are Faring
While Bitcoin price today led the market, altcoins showed mixed performance:
- Ether (ETH) edged up 0.1% to $3,111.0.
- Dogecoin (DOGE) dropped 1% to $0.383335 despite recent popularity driven by speculative Trump references.
- Other altcoins like XRP, SOL, ADA, and MATIC saw marginal gains of 0.6% to 3%.
The broader crypto market has struggled to match Bitcoin’s momentum, with previous altcoin rallies fading over the past week.
Coinbase CEO Makes Headlines
Amid Bitcoin’s meteoric rise, Coinbase CEO Brian Armstrong sold nearly $300 million in company shares, taking advantage of the market’s bullish sentiment. Coinbase shares have more than doubled in value in 2024, reaching a three-year high on Trump-related optimism.
A Turning Point for Bitcoin
With Bitcoin nearing $100,000, the question remains: will the momentum continue, or is a market correction imminent? For now, Bitcoin price today underscores its resilience as a leading asset in the crypto space, while regulatory developments and ETF-driven capital inflows keep investors optimistic about its future.
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