Bitcoin’s rally shows no signs of slowing as the cryptocurrency traded above $97,500 on Thursday, edging ever closer to the psychological $100,000 mark, a level that would push its market capitalization above $2 trillion. Over the past two weeks, Bitcoin has surged nearly 30%, fueled by favorable economic conditions, including a pro-crypto government in the U.S. and a shift in investor sentiment following recent Federal Reserve rate cuts.
This surge is being called a “Trump trade” by some market participants, a reference to the broader rally that has affected all asset classes since Donald Trump’s election victory. The launch of BlackRock’s Bitcoin spot ETF (IBIT) options has also sparked increased interest from institutional investors, with $2 billion in trading volume on the first day of the options’ release. This strong debut, which saw a bullish call-to-put ratio of 4.4:1, has highlighted Bitcoin’s growing integration into mainstream financial markets.
With such impressive market activity, some analysts are setting ambitious price targets for Bitcoin, projecting the cryptocurrency could reach as high as $200,000 in the coming months. This outlook is supported by Bitcoin’s increasing adoption, rising institutional confidence, and the launch of new investment vehicles like the IBIT options that provide more ways for investors to engage with the asset class.
These developments suggest that Bitcoin’s bullish momentum could continue, as it strengthens its position as a major player in the global financial ecosystem.
