The surge follows the launch of spot Bitcoin ETF (exchange-traded fund) options trading on the Nasdaq.
“This confirms our thesis of an accumulation phase before a year-end breakout,” said Valentin Fournier, an analyst at trading firm BRN, as quoted by Decrypt.
“If this momentum persists, Bitcoin prices could reach US$120,000 before 2025, driven by growing retail interest.”
The first day of options trading for BlackRock’s iShares Bitcoin Trust (IBIT) saw US$1.9 billion in notional exposure. Recent bullish catalysts include the SEC’s spot ETF approval and expectations of industry-friendly policies from the incoming Donald Trump administration.
The cryptocurrency’s rapid price escalation — jumping from US$93,500 to US$95,000 in less than 24 hours — signals continued investor confidence and potential for further growth in the digital asset market.
Investors and analysts are closely watching whether Bitcoin will maintain its upward trajectory and break the US$100,000 threshold before year-end, with market sentiment increasingly optimistic about the asset’s short-term potential, and possibly beyond.