BENGALURU: There has been a surge in market confidence since the US Election Day, and now Bitcoin inches closer to $100,000 mark. Experts said this optimism will continue and that institutional interest is also gaining momentum.
“With a more than 60% increase since US Election Day, Bitcoin’s rise is fuelled by growing anticipation that the incoming Trump administration will ease regulatory hurdles and create a more favourable environment for digital assets. This optimism is reflected in the broader crypto market, which has added over $800 billion in value since Trump’s victory, signalling a bullish outlook for Bitcoin and the entire sector,” said Sumit Gupta, co-founder, CoinDCX.
Bitcoin surged to an all-time high, surpassing $99,000, and analysts predict that the $100k mark will be achieved by the end of November itself.
“Since the recent US election, Bitcoin has been consistently setting new records, encouraged by expectations of a more supportive regulatory framework and a potential national Bitcoin reserve; that can legitimise Bitcoin as a government-backed asset. BlackRock’s Bitcoin ETF debuting options trading on Nasdaq is a big sign of increasing crypto adoption,” said Balaji Srihari, Business Head, CoinSwitch.
“Adding to the momentum are the speculations that Microsoft might incorporate Bitcoin into its treasury—a move that would further solidify institutional confidence. However, amid the excitement, traders should stay cautious. Big price jumps often lead to sharp corrections, and using too much leverage could amplify risks during volatile periods,” he added.
What will happen if Bitcoin breaks through the $100k mark? Gracy Chen, CEO at Bitget said reaching $100,000 could act as a psychological barrier where investors might reassess their positions, leading to a natural sell-off point, as seen in other asset classes when significant round numbers are breached.
Despite the rally, Bitcoin’s market dominance has dipped, which signals growing strength in altcoins like Ethereum, Doge, Solana and XRP jumping up to 25% in a day.
“BTC now faces critical resistance at $99,950 before breaking into the six-figure territory, with strong support holding at $95,000,” said Edul Patel, co-founder and CEO of Mudrex.