Bitcoin Edges Toward $100K Amid Record-Breaking $3.4T Crypto Market Cap.

Bitcoin Nears $100K as Crypto Markets Soar to Record $3.4 Trillion Market Cap

Bitcoin (BTC) is on the verge of breaking the elusive $100,000 barrier, with prices hitting $99,000 early Friday, marking a historic milestone for the cryptocurrency. The crypto market’s capitalization has reached a record $3.4 trillion, thanks to Bitcoin’s 2% daily gain, which now makes up 56% of the market’s total value.

Institutional flows into Bitcoin ETFs have surged, with U.S.-based products seeing $1 billion in net inflows. BlackRock’s IBIT ETF secured $600 million, while Fidelity’s FBTC attracted $300 million, reflecting robust investor interest.

Altcoins Follow BTC’s Lead
Bitcoin’s strength is fueling gains across the crypto spectrum:

• Ethereum (ETH): Up 9%, alongside booming activity in decentralized finance (DeFi).
• Solana (SOL): Climbed 8%, setting fresh highs above $260 amid rising ETF interest.
• Cardano (ADA): Advanced 12%, outpacing most major tokens.
• XRP: Surged 25%, benefiting from the impending resignation of SEC Chair Gary Gensler, easing regulatory uncertainty.

Outlook Remains Optimistic
With bullish sentiment driven by an anticipated pro-crypto U.S. administration, traders expect Bitcoin to hold above $100,000 soon, despite potential short-term pullbacks. Futures and options markets suggest strong confidence, with significant interest at the $100K strike price, indicating a positive trajectory for 2025.