Bitcoin ( BTC-USD ) is set to rise 4.32% on a weekly basis, as it finally breached the $100K threshold in the period, after hovering around it for some weeks. The world’s largest digital currency has seen a meteoric rise since Donald Trump won the elections, and investors had been waiting for the cryptocurrency to jet past the $100K mark. BTC started the week over $95K, and traded in a narrow range till Wednesday. Bitcoin ( BTC-USD ) touched the long awaited milestone as Trump’s pick of crypto backer, Paul Atkins as the SEC chair on Wednesday played the catalyst in pushing it past the mark. The cryptocurrency, however, fell below the mark on Thursday. “If Donald Trump's plan to create a Bitcoin strategic reserve is implemented and other countries quickly follow suit, it would significantly increase overall demand for Bitcoin. This could make Bitcoin worth $400,000 per coin within the next 5 years,” said Seeking Alpha analyst Kennan Mell . Click here to know what other Seeking Alpha analysts are saying as Bitcoin traded above $100K. Bitcoin ( BTC-USD ) is up a whopping 132% in a year. "As long as Bitcoin maintains this close—over $100k—going into the end of this week, we would expect that it continues to run higher, and could easily see it between $110k and $120k this month and going into next year," Cory Klippsten, CEO of Swan, a Bitcoin financial services firm, said. With the cryptocurrency’s rise, it is becoming one of the most prominent "Trump trades" in the aftermath of the 2024 election. Since the polls, Bitcoin’s ( BTC-USD ) price has jumped ~50%, as it benefits from rise in demand, increase in ETF inflows and a positive investor sentiment fuelled by Trump’s win. Wednesday also saw robust inflows into the spot BTC ETFs with $556.8 million coming in as net inflows, according to data from Farside Investors. "As we look ahead, Bitcoin's potential for growth remains significant, especially as institutions recognize it as a reliable store of value and increasingly invest in Bitcoin ETFs. Additionally, we anticipate interest in Ethereum ETFs and the forthcoming approval of Solana and Ripple ETFs, which will further diversify institutional portfolios," said Jeff Mei, COO at BTSE. Companies such as MicroStrategy ( MSTR ) have also been on a Bitcoin purchasing spree, and more companies have been looking to join the bandwagon, leading to a rise in corporate adoption of the cryptocurrency. Institutional flows into Bitcoin ( BTC-USD ) are expected to continue in 2025, which would make the cryptocurrency reach $200,000 by the end of next year, said Geoff Kendrick, head of Crypto Research at Standard Chartered Bank, in a note. "I think the prospects for next year also look excellent, though this depends a lot more on whether we get the strategic Bitcoin reserve and other political outcomes, with some these outcomes potentially sending Bitcoin into the hundreds of thousands of dollars per coin,” Klippsten added. Bitcoin’s ( BTC-USD ) market cap now stands at $1.97 trillion. "Technical analysis would point to about 120K as the next immediate resistance, and we would expect to see more major altcoins start to outperform in the near term as the FOMO appetite spreads out," said Augustine Fan, Head of Insights, SOFA. Notable News CleanSpark ( CLSK ) mined 622 bitcoins in November , while Argo Blockchain ( ARBK ) Wednesday said that it mined 39 Bitcoin in the month . Riot Platforms ( RIOT ) produced 495 Bitcoin in November . MARA mined 26.7% more Bitcoin in the month. MARA ( MARA ) said it will acquire a wind farm in Hansford County, Texas. The firm announced the pricing of its offering of $850 million aggregate principal amount of 0.00% convertible senior notes due 2031. Nano Labs ( NA ) said it plans to purchase and hold $50 million worth of bitcoin ( BTC-USD ) over the next five years. The U.S. will likely approve cryptocurrency legislation "fairly quickly" after crypto-friendly Donald Trump becomes president, Coinbase's ( COIN ) policy chief Faryar Shirzad told CNBC. Coinbase ( COIN ) added Apple Pay ( AAPL ) for all fiat-to- crypto purchases to its Onramp product for onboarding to crypto, as it seeks to streamline what can be a cumbersome process. Bitcoin, Ether prices Bitcoin ( BTC-USD ) up 2.58% to ~$101.70K at 3.05 pm on Friday. Ether ( ETH-USD ) rose 6.40% to $4.07K. More on crypto Bitcoin's Onwards To The Top: Managing The Endgame Bitcoin Hits $100,000: What Should Intelligent Investors Do? BRRR: Bitcoin's Dominance Is Slipping Bitcoin retreats from $100K, bringing down other crypto, related stocks Bitcoin to reach 200k, propelled by institutional flows and ETFs
