Just 2.5% away from the "$100,000 milestone"! BTC surged to $97,000

BTC once again surged astonishingly, breaking through $97,000 during the Asian session today (21), just 2.5% away from the $100,000 mark. Since the beginning of this year, the price of BTC has more than doubled, and in just two weeks after Trump's election, the increase has reached 40%. The market excitement has soared straight up.

According to CoinGecko's market quotes, BTC broke through $97,000 for the first time today, reaching as high as $97,581, continuing to refresh its all-time high with a 5.5% increase in the past 24 hours.

Crypto-friendly policies act as a catalyst

During his campaign, Trump publicly supported Cryptocurrency and vowed to make the United States the "global capital of Cryptocurrency." He plans to establish a "national BTC reserve" to position the U.S. as a leader in the digital financial sector.

This vision has ignited the market's enthusiasm for Crypto Assets. Since the election, over $4 billion has poured into the BTCSpot ETF listed in the US, becoming a powerful booster for the surge in BTC prices.

The market generally believes that the Favourable Information on the policy front will become a catalyst for further breakthroughs in BTC. Analysts pointed out that if the Trump administration successfully implements these plans, BTC will not only be a speculative asset, but also play an important role as a national reserve.

Earlier this week, BTCSpot ETF (IBIT), owned by BlackRock, launched options trading, which was unusually active. According to data, the volume of call options (bullish options) is much higher than that of put options (bearish options), indicating that investors remain bullish on BTC, which further strengthens market confidence.

Despite the soaring momentum of BTC, the market also remains cautious about whether the Trump administration can launch a long-term stable Cryptocurrency regulatory framework. Will Peck, Director of Digital Assets at WisdomTree, said:

Everyone is looking forward to this government bringing long-awaited regulatory clarity to the Crypto Assets industry. However, it may be too early to draw conclusions now.

Will Peck also emphasized that this market frenzy is not only beneficial to Bitcoin (BTC) and cryptocurrency, but will also drive the development of the entire blockchain ecosystem.

Analysis: Can BTC continue to break through?

Analysts generally believe that $100,000 is the next important psychological barrier for Bitcoin (BTC), and also a key step in confirming BTC's ascent to the mainstream asset class. If this milestone is achieved, the market value of BTC will exceed $2 trillion, becoming the focus of global capital competition.

IG market analyst Tony Sycamore said, "The demand for BTC is clearly very strong, and even though the process may be a bit bumpy, it is still advancing towards the target of $100,000."

<Only 2.5% away from the '100,000 US dollar mark'! BTC skyrocketed to 97,000 US dollars> This article was first published in 'Blocktempo'.