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Bitcointhe first and largest cryptocurrency by market cap, is approaching $100,000 for the first time in 2025, after a remarkable six-day gain. Bitcoin has had an amazing start to the year, gaining momentum as positive optimism spreads throughout the cryptocurrency market.
At the time of writing, Bitcoin has traded 1.27% over the past 24 hours to $99,021 after hitting intraday highs of $99,888, near the $100,000 mark. Bitcoin began rising from its lows of $91,887 on December 31 and continued into the new year; Bitcoin has recorded six consecutive days of gains since this date and will post its seventh gain, assuming the day closes in the green.
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Bitcoin reached record highs of $108,268 on December 17, 2024. However, the rally faded shortly thereafter, likely due to year-end profit-taking and a tightening outlook for federal interest rates.
With Bitcoin making another push past $100,000, expectations are rising in the cryptocurrency market.
According to the cryptoanalyst Michael van de Poppe“Bitcoin is moving up to a crucial breakout level,” and a break above $100,000 could trigger a new ATH in January.
What is happening?
Accurate strategyThe Bitcoin development company intends to raise $2 billion from preferred stock offerings in the first quarter of 2025 to support additional Bitcoin purchases. Metaplanet, a Japanese investment firm, also announced plans to purchase 10,000 BTC.
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MicroStrategy could announce a new Bitcoin purchase as soon as Monday, according to a teaser tweet from co-founder Michael Saylor. Since late 2024, Saylor tweeted a SaylorTracker chart about a day before revealing the new purchases, causing Bitcoin prices to rise in anticipation but then fall when official announcements are made.
On the macroeconomic front, investors will be watching with interest as officials meet again in January to make monetary policy decisions. The CME FedWatch tool indicates that traders in the Federal Reserve funds futures market expect a pause in interest rates at the next meeting. In December, the Fed cut interest rates by a quarter of a percentage point, but stated that there would be smaller rate cuts in 2025.
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