Bitcoin Price Outlook: Bullish Momentum Continues as BTC Surges Past the $100K Threshold

• Bitcoin surpasses the $100K milestone on Thursday following a week-long consolidation phase.
• Its market capitalization now stands at $2 trillion, fueled by the appointment of a pro-crypto SEC chair, increasing institutional interest, and supportive remarks from Vladimir Putin.
• However, traders should remain vigilant regarding the movement of funds from Mt. Gox and transfers by the US government, which could impact market dynamics.

Bitcoin (BTC) surged past the $100K mark on Thursday, achieving a $2 trillion market capitalization—a highly anticipated milestone in the cryptocurrency market. The rally propelling BTC into six-figure territory was primarily fueled by the nomination of a pro-crypto SEC chair by Donald Trump, alongside growing institutional interest and favorable comments about Bitcoin from Russian President Vladimir Putin.

Although trader sentiment remains bullish, factors like the movement of funds from the defunct Mt. Gox exchange and transfers by the US government could introduce heightened selling pressure.

Bitcoin’s price climbed to six figures during the early Asian trading session, reaching approximately $102,700 by Thursday’s European session. This historic surge has sparked enthusiasm among investors and crypto enthusiasts alike, marking a significant milestone as Bitcoin not only validates long-term investments but also achieves a $2 trillion market capitalization.

The recent surge in BTC was largely driven by Wednesday’s announcement that Donald Trump had nominated Paul Atkins, CEO of Patomak Global Partners, as the next Chairman of the Securities & Exchange Commission (SEC).