Bitcoin's price hits $106k despite heavy liquidations last week. MicroStrategy and the Fed are contributing factors.
BTC's Surge Above $100k
Bitcoin is surging past $106,000, defying last week’s record liquidations and overcoming a psychological support level that seemed hard to maintain. This is the effect of the golden moment for the crypto industry, fueled by a euphoric community and winds of regulatory change in the United States.
It is also proof that the leading cryptocurrency no longer depends directly on retail investor sentiment. Its consistent upward movement in recent months is far more likely driven by institutional demand, which is reaching new highs through ETFs during these days.
Everyone Is Contributing to the Upside
The bullish context is further strengthened by multiple factors. Donald Trump’s plan to launch a national BTC reserve has resurfaced recently, with the U.S. president stating his intention to “do something big” with cryptocurrencies.
The same vision is shared by BlackRock, which reaffirmed its focus on expanding its crypto ETFs, and MicroStrategy, which continues to purchase BTC at its peak values in billions of dollars while also now being listed on the Nasdaq 100.
This news can only fuel further demand for BTC, which today is more integrated into the mechanisms of traditional finance than ever before.
Adding to this is the Fed, creating a macroeconomic context that could also contribute to BTC’s rally. Scheduled for Wednesday, the FOMC meeting could announce a new 25 basis point interest rate cut, with a 97.1% probability according to FedWatch.
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