Bitcoin Surpasses $100,000 for the First Time Following Massive Rally

Bitcoin soared to a historic all-time high, surpassing the $100,000 mark for the first time on Thursday morning (PKT). It briefly peaked at $103,679 before settling to $103,300 by 8 AM. By 9:15 AM, it was trading at $103,000.

At 9:20 AM, Bitcoin was up 7.74%, hovering around $103,216. At the time of writing, BTC’s fully diluted market cap stood at $2.17 trillion, with 19.79 million coins in circulation.

Notably, Bitcoin experienced a dramatic fall to below $16,000 in 2022 but has since rebounded, gaining nearly $88,000 in value. Starting 2024 at around $44,000, the cryptocurrency has surged an impressive 120% this year.

The rally is attributed to growing interest from institutional investors and optimism surrounding Donald Trump’s recent appointment of Paul Atkins, a crypto-friendly advocate, as the new SEC chair. Additionally, Trump’s victory in last month’s US elections is seen as a major driver behind Bitcoin’s meteoric rise, with market participants believing it signals a brighter future for cryptocurrencies under his administration.