Bitcoin has surged previous the $100,000 mark, reaching a brand new all-time excessive of $104,000 on December 5, 2024. Dominance is rising consequently.
This vital milestone has propelled Bitcoin’s market dominance to 57%, reaffirming its leading position within the cryptocurrency market. The latest drop in dominance had given alt cash room to run over the past two weeks.
Supply: X
The latest rally is basically attributed to investor optimism following President Donald Trump’s election victory. His administration is anticipated to undertake a extra crypto-friendly stance, together with plans to appoint cryptocurrency advocate Paul Atkins as the subsequent chair of the Securities and Change Fee.
Supply: BNC Bitcoin Liquid Index
This improvement has led to elevated institutional funding and the approval of U.S.-listed Bitcoin exchange-traded funds, additional boosting Bitcoin’s worth. The entire cryptocurrency market capitalization has now reached practically $3.eight trillion, with Bitcoin accounting for a good portion of this worth.
Google Search traits point out a surge in interest in Bitcoin, a pure response to the 100Ok milestone. Supply: Google
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