DailySun
Bitcoin has surged to a new record, reaching an all-time high of over $107,000.
After reclaiming the critical $100,000 mark, Bitcoin (BTC) continued to gain momentum, hitting a peak of $107,172 on the U.S.-based crypto exchange Coinbase. This significant increase followed the world’s largest corporate holder of Bitcoin acquiring an additional $1.5 billion worth of the cryptocurrency.
Bitcoin surpassed the $104 threshold on December 5, 2024.
However, profit-taking led to a decline to $97,044, where it faced challenges in gaining upward traction for the following nine days. On December 15, 2024, bulls managed to push the price above its previous record, prompted by positive statements from U.S. president-elect Donald Trump.
The rise of BTC above $107k coincided with MicroStrategy acquiring 15,350 BTC, increasing its total holdings to 439,000. As the price of BTC surged to its new ATH, MicroStrategy’s shares also experienced a boost, starting with a 6.5% increase in pre-market trading.
Bitcoin’s rally, which analysts believe could continue, also marked another important milestone.
In a post on X, veteran trader Peter Brandt pointed out that the Bitcoin-to-gold ratio reached a new ATH of 39. This means that it currently takes 39 ounces of gold to purchase one BTC. Brandt indicated that the next resistance level could be at 89, suggesting a continued strengthening of Bitcoin against gold, which traded at $2,670.3 per ounce at the time of writing.
In other news, spot Bitcoin exchange-traded funds have experienced net inflows for five consecutive days.
The market recorded total inflows of $2.17 billion from December 9 to 13. With a pro-crypto Trump administration set to take office in the U.S., factors such as spot ETFs and enhanced regulatory clarity are fueling bullish sentiment, with the next target for BTC set at $110,000.
