Bitcoin’s Surge: Are We Witnessing a Historic Breakthrough?

The cryptocurrency market is experiencing unprecedented momentum, driven by a recent executive order from President Donald Trump aiming to establish a Sovereign Wealth Fund.

Bitcoin (BTC) Surges Past $99K as Crypto Market Cap Crosses $3.2 TrillionBitcoin (BTC) price surged on Monday as the total cryptocurrency market capitalization rose above $3.21 trillion, continuing a strong rally in 2023. BTC price rose as much as 5.89% over the past 24 hours to trade at $99,222.15 by 21:34 ET (02:34 UTC). It had a market value of $1.96 trillion, or about 60.84% of the total crypto market cap.

Bitcoin price rally comes amid a broader market recovery from 2022 lows, with the world’s largest cryptocurrency rallying about 50% year-to-date (YTD). The gains follow a 2022 downturn that saw BTC prices fall below $40,000 in December, prompting market participants to assess the sustainability of crypto prices.

Bitcoin Surges Past $98K; Nearer to Hitting $100K MilestoneBitcoin (BTC) price surged on Monday as the total cryptocurrency market capitalization rose above $3.19 trillion, continuing a strong rally in 2023. BTC price rose as much as 4.9% over the past 24 hours to trade at $98,363.33 by 20:06 ET (01:06 UTC). It had a market value of about $1.93 trillion, or roughly 60.3% of the total crypto market cap.

Bitcoin prices rose sharply after U.S. President Donald J. Trump signed an executive order on Friday, aiming to boost the economy and markets after the Federal Reserve began unwinding pandemic-era stimulus measures earlier this year. The order also directed officials to study the feasibility of a central bank digital currency (CBDC) in the United States.

Cryptocurrency markets had a strong start to 2023 after a downturn in 2022, which saw BTC prices fall below $40,000 in December. Following a weak 2022, traders are now assessing the sustainability of crypto prices after a market recovery in the first half of this year.

Bitcoin price now eyes $100K as crypto market cap crosses $3.21 trlnBitcoin (BTC) price surged on Monday as the total cryptocurrency market capitalization rose above $3.21 trillion, continuing a strong rally in 2023. BTC price rose as much as 5.89% over the past 24 hours to trade at $99,222.15 by 21:34 ET (02:34 UTC). It had a market value of $1.96 trillion, or about 60.84% of the total crypto market cap.

Bitcoin prices rose sharply after U.S. President Donald J. Trump signed an executive order on Friday, aiming to boost the economy and markets after the Federal Reserve began unwinding pandemic-era stimulus measures earlier this year. The order also directed officials to study the feasibility of a central bank digital currency (CBDC) in the United States.

Cryptocurrency markets had a strong start to 2023 after a downturn in 2022, which saw BTC prices fall below $40,000 in December. Following a weak 2022, traders are now assessing the sustainability of crypto prices after a market rally in H1 2023.