Bitcoin's (BTCUSD) historic surge past $100,000, punctuated by a current record high of $103,577 in early December, marks a watershed moment driven by powerful market catalysts. The cryptocurrency landscape has transformed dramatically since the SEC's January 2024 approval of spot Bitcoin ETFs, followed by the October authorization of options trading for 11 exchange-traded funds (ETFs). This unlocked over $70 billion in fresh capital, and highlighted a significant shift in institutional preferences.
The bullish crypto momentum accelerated following Trump's election victory and his strategic appointment of Paul Atkins as SEC chair. The president-elect's bold promise to make America "the crypto capital of the planet" and create a "strategic national bitcoin stockpile" sparked renewed confidence in crypto-friendly policies, energizing the market just as the recent “halving” event slashed block rewards to 3.125 BTC. This reduction in supply pressure coincided perfectly with surging institutional demand.
