Bitcoin Nears $100,000 as Pro-Crypto Momentum Drives Market Rally

Bitcoin (BTC) surged above $98,300 coming within striking distance—less than 3%—of the highly anticipated $100,000 milestone. Achieving this level would elevate Bitcoin’s market capitalization beyond $2 trillion, marking a historic achievement.

This rally, which has propelled BTC nearly 30% in just two weeks, is fueled by a pro-crypto U.S. government under Republican leadership and a fresh round of Federal Reserve rate cuts that have reignited risk-on sentiment among investors. Dubbed the “Trump trade” by market participants, the wave of optimism spans multiple asset classes, from stocks to bonds.

A significant factor underpinning this surge is the debut of BlackRock’s IBIT options, a Bitcoin spot ETF offering that is physically settled. These options achieved a $2 billion trading milestone on their first day, signaling robust market interest. Notably, within the first hour of trading, over 73,000 contracts changed hands, with a bullish call-to-put ratio of 4.4:1.

“This strong debut positions IBIT among the top 20 most active non-index options globally, reflecting growing institutional confidence in Bitcoin as a mainstream financial asset.

Adding to the momentum, industry insiders revealed that the Trump transition team is considering Teresa Goody Guillén, a blockchain expert from law firm BakerHostetler, as a candidate for SEC chair—a move viewed as another pro-crypto policy signal.

Banks and financial analysts have issued bullish price targets, some projecting Bitcoin to hit $200,000 in the months ahead, buoyed by the strong political and institutional tailwinds. With Bitcoin knocking on the door of $100,000, the narrative of cryptocurrency as a cornerstone of mainstream finance grows ever stronger.