Bitcoin broke through the $113,000 mark, continuing its strong performance above $100,000 since December 2024 despite a dip to $75,000 in April. The rise in value is linked to President Trump's pro-crypto policies and the demand from crypto ETFs and corporate treasuries. Bitcoin remains the largest cryptocurrency with a market cap of $2.25 trillion, significantly outpacing others like Ethereum. This substantial increase follows a turbulent period for Bitcoin and the broader crypto market that began with the FTX exchange's bankruptcy.
Bitcoin's price surge is largely attributed to the election of President Donald Trump who embraced crypto policies, including a government reserve holding Bitcoin.
The months-long rally has seen Bitcoin consistently above $100,000, a benchmark it first surpassed in December 2024 before falling to $75,000 in April.
Demand from crypto ETFs and corporate treasuries is influencing recent price movements, with long-term holders cashing in on their profits.
Despite fluctuations in Bitcoin's price driven by market events, it continues to hold a significant market capitalization of $2.25 trillion.
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