Bitcoin Climbs to $104k: Why is BTC Up Today?

In a stunning show for the largest cryptocurrency by marketplace cap, Bitcoin has officially climbed supra $104k, starring galore to wonderment wherefore BTC is up today. Like overmuch of the cryptocurrency industry, the plus has not had the top commencement to 2025. However, it has answered concerns with its monolithic surge arsenic we walk the midpoint of January.

Throughout the week, a big of cryptocurrencies person skyrocketed successful price. Yet, Bitcoin was near much oregon little retired of the equation arsenic acold arsenic surging prices. The token has made up for that Friday, arsenic it enters the past trading time earlier the inauguration of US President-elect Donald Trump backmost supra the six-figure mark. Now, let’s research wherefore that could be.

JUST IN: $104,000 Bitcoin pic.twitter.com/Y1LMdyP3mm

Also Read: Oklahoma Introduces Strategic Bitcoin Reserve Act

Bitcoin Surges to Firmly Above $100,000 Level: Why Is It Up Today?

There is nary denying that Bitcoin had a revolutionary twelvemonth successful 2024. The plus saw the commencement of the archetypal spot BTC ETF that took the concern assemblage by storm. Moreover, it pushed the token acold supra the $100,000 people for the archetypal clip ever. However, determination are besides a batch of experts who judge this twelvemonth could beryllium adjacent better.

That has started to look ever clearer arsenic Bitcoin has climbed to the $104k mark, and galore traders are wondering wherefore BTC is up truthful overmuch today. For many, the surge is connected to the upcoming inauguration of Donald Trump, acceptable to instrumentality spot successful conscionable 3 days.

Source: New York Times

Also Read: Donald Trump Eyes Strategic Reserve for Coins Like Solana, XRP

Trump is rumored to person already placed cryptocurrencies from and halfway of his incoming administration. According to reports, helium is acceptable to marque the asset people a nationalist precedence as helium looks to revamp crypto policy. Optimism surrounding that world has apt played a monolithic portion successful a surging Bitcoin.

Additionally, the US President-elect has already discussed the process of creating a strategical Bitcoin reserve for the country. US Senator Cynthai Lummis introduced authorities for a Bitcoin Act past year. Moreover, she has already met with a typical from the Trump camp. Subsequently, determination are expectations that the measure could beryllium greenlit sooner alternatively than later.

Those developments person apt led to a surge successful affirmative sentiment for the plus people arsenic a whole. Therefore, they person apt been the catalyst for its astir caller leap of much than 5.7% implicit the past 24 hours, according to CoinMarketCap.