Bitcoin crosses $101,000. Following the release of the latest inflation data from the United States, which fueled growing expectations of another potential interest rate reduction by the Federal Reserve, Bitcoin experienced a renewed upward momentum. This development propelled the cryptocurrency to surpass the $101,000 threshold once again, reflecting the market’s reaction to economic indicators and central bank policies that continue to influence investor sentiment. According to a Bloomberg article, Bitcoin, the largest cryptocurrency in the world, resumed its ascent above the $100,000 mark on December 12 as the Federal Reserve (Fed) was more likely to decide on a rate drop in light of recent U.S. inflation data.
Bitcoin has increased significantly after Donald Trump was elected president of the United States. Additionally, it stated that the rally has been fueled by Trump’s actions to reverse the industry crackdowns that Joe Biden’s government had enforced. B
On December 5, Bitcoin reached a historic milestone by surpassing its all-time high of $103,800, marking a significant moment for the cryptocurrency market. However, following this achievement, traders began securing their profits, causing the price to face challenges in staying above the critical $100,000 level. Despite this struggle, optimism persists as investors continue to place bets on the cryptocurrency’s potential for further gains in the near future.
Bitcoin Rising
As reported in the article, the cryptocurrency token experienced a notable rise of 5% in its value within the United States on December 11. This upward trend continued, and by 8:52 a.m. Singapore time on December 12, the token had reached an impressive price of $100,665, marking a significant milestone in its market performance. Bitcoin crosses $101,000.
According to data on Coinmarketcap.com, the cryptocurrency was worth $101,3.73 at the time of writing, which was 9:00 am in Mumbai. This represents a 4.30 percent increase from the day before. On December 12, the tracking website reported that the market capitalization of Bitcoin had increased 4.30 percent to $2.01 trillion. Bitcoin crosses $101,000.
On December 12, the total value of the world’s cryptocurrency market was $3.64 trillion, up 5.53 percent from the day before. According to Coinmarketcap data, Bitcoin holds a commanding 55.09 percent of the market pie. Bitcoin crosses $101,000.
Following Trump’s victory in November 2024, Bitcoin has increased by about 50%. According to the research, $11 billion has been invested in US spot Bitcoin exchange-traded funds (ETFs) within the same time frame. Bitcoin crosses $101,000.
The report further highlighted that a substantial amount of capital, nearly $2.4 billion, has been directed toward investments in Ether. Ether, recognized as the second-largest cryptocurrency in terms of market value, continues to attract significant investor interest. This development underscores the growing confidence in Ether’s potential, solidifying its position as a leading digital asset in the evolving cryptocurrency market. Bitcoin crosses $101,000.
Frequently Asked question
Bitcoin’s ascent above $101,000 is attributed to positive U.S. inflation data, increasing speculation of a Federal Reserve rate cut, and policy changes by Donald Trump’s administration, reversing previous industry crackdowns.
The latest U.S. inflation data has strengthened the possibility of a Federal Reserve interest rate drop, which is seen as a favorable condition for Bitcoin and other cryptocurrencies, fueling the rally.
Since Donald Trump’s election in November 2024, Bitcoin has surged by about 50%, driven by policy reversals on industry crackdowns and increased investments in cryptocurrency-related assets like ETFs.
A market capitalization of $2.01 trillion signifies Bitcoin’s growing dominance, representing 55.09% of the global cryptocurrency market, which reached $3.64 trillion on December 12.
The $11 billion investment in U.S. spot Bitcoin ETFs highlights increased institutional confidence in Bitcoin, contributing to its price surge and overall market stability.
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