Bitcoin has experienced a 4% increase in the past 24 hours, pushing its price over $106,000. This surge is attributed to renewed market enthusiasm sparked by Donald Trump’s inauguration and numerous ETF applications. As Bitcoin attempts to break out of the $101-$106K range, analysts view this as a potential precursor to reaching new all-time highs.
On-chain data supports this optimism, as the market remains buoyant amid these developments.