After weeks of anticipation, Bitcoin (BTC) has finally broken through the psychological barrier of $100,000, achieving a new all-time high of $103,500 earlier today. This milestone cements Bitcoin’s position as the leader in the crypto market, driving renewed investor confidence and market activity.
A Long-Awaited Breakthrough
Bitcoin’s journey to the six-digit mark has been dramatic. Following Donald Trump’s U.S. election victory a month ago, BTC traded around $68,000. It began a sharp ascent, surpassing its all-time high of $69,000 in March.
On November 22, Bitcoin nearly breached $100,000, peaking at $99,800, before a swift correction dragged it below $91,000. However, bullish momentum returned, pushing BTC back into an upward trajectory. Yesterday, it surged from $95,000 to $99,000 and finally crossed the $100K threshold early this morning.
BTC now trades slightly below its peak at $103,000, with a market capitalization of over $2.03 trillion, reclaiming dominance over altcoins at 52.7%.
Ethereum Reclaims Attention
While Bitcoin stole the spotlight, Ethereum (ETH) has quietly staged its own rally. The second-largest cryptocurrency has risen by 5.5% in the past 24 hours, trading at over $3,900.
Mixed Performance Across Altcoins
The broader cryptocurrency market remains dynamic, with notable performances among altcoins:
- Gainers:
- DOGE, SHIB, BCH, DOT, SUI, and CRO have all posted significant gains.
- Decliners:
- BNB, TRX, AVAX, XLM, HBAR, and TON experienced slight drops.
- XRP also declined, surprising many as speculation grows over Donald Trump’s potential SEC chair pick.
Total Crypto Market Cap Hits Record High
The combined crypto market capitalization reached a historic high of $3.85 trillion, reflecting robust market-wide growth.
Outlook
Bitcoin’s breakout above $100,000 signals growing institutional adoption and heightened market confidence. Ethereum and other altcoins have followed suit, contributing to a record-breaking total market cap. However, the crypto market remains volatile, with both opportunities and risks for traders and investors.
