Bitcoin, the first and largest cryptocurrency by market capitalization, is edging closer to $100,000 in 2025 following a remarkable six-day rally.
Current Market Conditions
At the time of writing, Bitcoin is trading up 1.27% in the last 24 hours to $99,021 after reaching intraday highs of $99,888. Bitcoin began to rise from $91,887 on Dec. 31 and has continued into the new year, marking six straight days of gains.
Analysis and Predictions
Bitcoin hit record highs of $108,268 on Dec. 17, 2024. However, the rally faded possibly due to year-end profit-taking and hawkish Fed rate predictions. According to crypto analyst Michael Van de Poppe, Bitcoin is nearing the crucial breakout level, and a break above $100,000 might result in a new ATH in January.
Macroeconomic Context
MicroStrategy intends to raise $2 billion in preferred stock offerings to fuel additional Bitcoin purchases. Metaplanet, a Japanese investment firm, also announced plans to buy 10,000 BTC. On the macroeconomic front, investors will be watching as officials meet again in January for monetary policy decisions.
Expectations in the cryptocurrency market are rising as Bitcoin makes another push beyond $100,000. Both market and macroeconomic factors will be crucial for the future movement.
