Africa-Press – Eswatini. Bitcoin has reached a historic milestone, breaking the $100,000 barrier for the first time, driven by a surge of retail and institutional investment.
The cryptocurrency hit a peak of $103,000 late Wednesday before stabilising at $102,900, marking a 45% increase since the U.S. election day. This rally is largely fueled by growing optimism regarding Donald Trump’s expected return to the White House, with many anticipating a more favourable regulatory environment for digital assets under his leadership.
The surge has not only benefitted Bitcoin but has also extended to other cryptocurrencies, with market sentiment shifting toward risk-on strategies. Retail interest has surged, reaching levels not seen since 2020, according to analytics firm CryptoQuant. Small-scale investors are eager to capitalise on the rally, while institutional players are also showing confidence, with strong inflows into exchange-traded funds (ETFs) focused on Bitcoin and Ethereum.
Valentin Fournier, an analyst at BRN, noted that institutional interest remains robust, highlighting a growing confidence in digital assets. However, with Bitcoin’s price crossing the $100,000 threshold, the cryptocurrency enters uncharted territory, raising the possibility of further short-term gains.
Despite the enthusiasm, Fournier cautioned that the market is experiencing “extreme greed,” as reflected by the Fear and Greed Index, which now exceeds 80. He warned investors to prepare for potential volatility and profit-taking as market dynamics shift.
Bitcoin’s unprecedented rise signals a growing acceptance of digital currencies as a legitimate asset class, with both retail and institutional investors increasingly viewing them as integral to their portfolios. As the market anticipates the policy direction of a potential Trump administration, the cryptocurrency sector seems poised for heightened activity and scrutiny.
For now, the milestone reaffirms Bitcoin’s dominance in the digital asset space, though market participants remain watchful of the evolving dynamics in the rapidly shifting cryptocurrency landscape.
For More News And Analysis About Eswatini Follow Africa-Press
