BTC Surges as Market Awaits $100K Target Post-Record High
Bitcoin is in price discovery mode after reaching record highs, with traders eyeing $100K. Market dynamics shift following recent political developments.

Latest Prices
- CoinDesk 20 Index: 2,333.79 (+4.21%)
- Bitcoin (BTC): $76,158.35 (+1.45%)
- Ether (ETH): $2,937.70 (+4.23%)
- Nikkei 225: 39,500.37 (+0.3%)
Market Overview
Bitcoin (BTC) has made several attempts to establish a stable position above $76,000 during the Asian and European trading sessions. Over the last 24 hours, BTC has increased by 1.7%, currently sitting approximately 0.9% below its all-time high of over $76,900, which was achieved on Thursday afternoon in the U.S. The overall digital asset market has experienced a rise of about 4%, largely driven by significant gains in Cardano's ADA, which is up 16% to $0.43. Additionally, Solana's SOL token has surged, breaking the $200 mark for the first time since March, with an 8.75% increase in the last 24 hours.
Price Predictions
Traders are setting their sights on the $100,000 mark as the next significant target for Bitcoin's price, although analysts suggest there may be a consolidation phase beforehand. Factors contributing to BTC's momentum include the recent election of President-elect Trump and the anticipated 25 basis-point interest rate cut by the Federal Reserve. There are concerns regarding a potential short-term pullback due to Trump's proposed tariffs on China and rising national debt. According to Alex Kuptsikevich, a senior market analyst at FxPro, BTC is currently "defending its top" and there is potential for prices to rise to $100-110K within the next 2-3 months without major setbacks.
ETF Inflows
Bitcoin ETFs in the U.S. reported record net inflows of $1.38 billion on the day Trump won the presidency. BlackRock’s IBIT led the inflows with over $1.1 billion, marking the highest since its launch in January. The cumulative net inflows across all Bitcoin ETFs have surpassed $25 billion for the first time, with no ETFs reporting net outflows. Ether ETFs also saw $78 million in net inflows, driven by renewed optimism in decentralized finance following Trump's election. ETH experienced a more than 10% increase on Thursday, fueled by expectations of favorable pro-crypto policies under the new administration.
Technical Analysis
- SOL/BTC Performance: Solana has been one of the standout performers following Trump's election victory, rising 11% against Bitcoin in the past week.
- Breakout Potential: The SOL-BTC ratio has broken out from a triangular consolidation, indicating bullish sentiment among traders, which may lead to a return to 2021 highs.
- Confirmation Needed: For the breakout to be confirmed, the weekly candle must close above the upper trendline by Sunday (UTC).
The cryptocurrency market is currently in a dynamic phase, with Bitcoin and other digital assets responding to political developments and market sentiment. As traders look toward potential new highs, the coming weeks will be critical for assessing market stability and growth potential.
What's Your Reaction?






