Bitcoin steamrolled closer to the historic $100,000 mark, jumping about 5% within two hours after a few crumbs of intel revealed that Donald Trump’s pro-crypto machine is already revving up.
The biggest crypto is in a near-unstoppable ascent and Trump has not even moved his stuff back into the White House yet.
The best-performing asset class of the year by far, Bitcoin, has thrashed gold and the S&P 500. It has risen 30% in just the last two weeks.
Shooting past the $100,000 milestone could be a breakout moment, giving it unprecedented momentum and its entry into the mainstream financial club may no longer be up for debate.
Meanwhile, the global FOMO meter is off the charts as traders worldwide wrestle with existential questions: “Did I miss the Rocketship? Should I jump in now? Is $100K just the beginning?”
Answer: Maybe. But also, chill. This is Bitcoin—if you’re not sweating, you’re doing it wrong.
Why’s BTC pumpin’?
Consider the wind in its sails.
- Long-time bitcoin HODLer Microstrategy recently purchased bitcoin worth $4.6 billion. Its shares have soared more than 10% in the past 24 hours, putting the Michael Saylor-led company within touching distance of a $100 billion valuation.
- Punters on Polymarket, the most popular crypto-linked betting site are giving the OG crypto odds as high as 91% of hitting six figures before next year.
- Bitget Chief Analyst Ryan Lee points to prices as high as $150,000 by late 2025 in a report on Wednesday
Trump’s Crypto Cabinet? The plan, while lacking details, is showing signs he’s sticking to his promises.
Word on the street is his transition team is cooking up a first-ever dedicated White House role for crypto. And Howard Lutnick, CEO of Tether’s favorite banker, is in line for commerce secretary.
Trump’s also tapping Fox News favorite and crypto fanboy Pete Hegseth for defense secretary and is considering crypto lawyer Teresa Goody Guillen to lead the Securities and Exchange Commission, the US’ top watchdog.
‘Extreme greed’
If you need more evidence of the unrestrained enthusiasm (bubble vibes?) for bitcoin, consider BlackRock’s IBIT Bitcoin ETF options, which raked in nearly $2 billion on the first trading day on Tuesday.
Yet, blockchain analytics firm CryptoQuant is WARNING the market about a few party poopers that could cut the current rally short.
An investors’ buying spree could be a double-edged sword for bitcoin, with the tool for gauging whether investors are shelling out money on the asset at the “extreme greed” level. This “signals that a top is near,” CryptoQuant said on X, suggesting a potential decline.
There are also risks of no new cash going into the market, which could stall BTC’s price and force a pullback, the firm says.
And then there’s what traders call a “psychological barrier”, too, where investors reassess their positions once bitcoin hits $100,000. If bitcoin kisses that number, there is a chance of a pullback, Gracy Chen, CEO of crypto exchange Bitget, tells MONIIFY.
So, is this the supercycle or just another head fake? Keep an eye on the greed meter— it might save your portfolio from an epic hangover.
