Bitcoin Spikes To $104,000, Traders Eye $130,000 Target In Late January
Bitcoin (CRYPTO: BTC) has surged past the $104,000 mark, propelled by a mix of renewed optimism surrounding the incoming US administration and strong market sentiment, according to experts.
What Happened: According to Coingecko data, the cryptocurrency briefly hit $104,279 and is trading at $103,791 at the time of writing, up 5.6% on the day.
Market analysts point to the incoming Donald Trump administration’s potential embrace of crypto, as well as high levels of buyer interest to explain the latest jump.
The wider crypto market is also experiencing considerable gains, with Ethereum (CRYPTO: ETH) trading at $3,418, after earlier reaching $3,431.
Numerous altcoins are showing substantial growth with Solana (CRYPTO: SOL), Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB) and Litecoin (CRYPTO: LTC) rising by 5%, 7%, 8%, and 12% respectively.
Also Read: Bitcoin Miners Consolidate Power: 12 Firms Now Control 30% Of Network Hash Rate
Why It Matters: The …
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