The post Bitcoin surges above $100K again – Bull run returns or correction ahead? appeared on BitcoinEthereumNews.com.

Bitcoin’s bull run was driven by Spot Bitcoin ETFs and rising U.S. investor confidence. MicroStrategy’s ongoing Bitcoin purchases and Trump’s crypto stance added fuel to the rally. Bitcoin [BTC] has hit the $100k mark once more — a dramatic recovery that has reignited interest in the coin. As BTC begins a bull run, one factor stands out; the increasing role of U.S. investors. This surge in buying activity has been spurred in part by the approval of Spot Bitcoin ETFs, which have not only legitimized Bitcoin in the eyes of institutional players but also amplified the bullish sentiment among retail investors. Alongside these developments, key indicators like the Coinbase Premium Index and large Bitcoin outflows from exchanges signal a growing dominance of U.S. market participants. Bitcoin: A comeback to $100k MicroStrategy has been a major player in Bitcoin’s recent surge, having purchased more BTC for the ninth consecutive week. The company now holds a staggering 447,470 Bitcoin, valued at $27.97 billion. This strategic buying has undoubtedly contributed to Bitcoin’s rise above the $100k mark. Additionally, with Donald Trump set to be inaugurated as U.S. President on the 20th of January, there is growing optimism about a favorable crypto environment under his leadership. Trump himself has suggested the possibility of a Bitcoin fund for the U.S., further fueling enthusiasm. This combination of institutional support and political developments has helped Bitcoin break through significant price barriers, signaling a positive outlook. U.S. investors and the positive Coinbase Premium Index The Coinbase Premium Index, which recently flipped positive, highlights the critical role of U.S. investors in driving Bitcoin’s upward momentum. A positive CPI reflects heightened demand for Bitcoin on U.S.-based exchanges like Coinbase compared to their global counterparts, indicating stronger buying pressure from U.S. market participants. Source: Cryptoquant This shift follows the launch of…

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Filed under: News - @ January 7, 2025 7:25 am