Bitcoin has demonstrated resilience, bouncing back to $96,100 after a brief correction to $91,000. The cryptocurrency's upward momentum, fueled by Trump's pro-crypto stance, aims toward the $100,000 marker. Experts attribute this trend to the Halving cycle's bullish behavior and growing institutional interest.
Recent market performance shows Bitcoin decoupling from major indices like the Nasdaq Composite, which saw a decline. Crypto-related companies like Coinbase, Robinhood, and MicroStrategy reported gains, reinforcing the bullish sentiment around Bitcoin's growth.
Analysts like Alex Thorn from Galaxy Digital view the Bitcoin bull market optimistically, despite potential regulatory concerns. Thorn highlights that the increasing adoption by institutional and corporate entities will likely drive Bitcoin's price further in the near to medium term.
Katie Stockton from Fairlead Strategies remarks on Bitcoin's "uncharted territory," indicating limited historical data for resistance levels. Support around $74,000 suggests a strong base for future gains. Stockton emphasizes Bitcoin's volatility and its potential for long-term growth.
As Bitcoin's year-to-date gain stands at 124%, it continues to outperform Ethereum's 55% gain. Optimism persists for Bitcoin to cross the $100,000 threshold before year-end.
