Bitcoin has made it past $100,000 again, for the first time this year. This surge comes alongside a broader crypto market rally, with the total market cap seeing a 3% rise. Ether had a strong weekend too, while Solana recorded its best performance since November. Crypto-linked stocks like Coinbase and MicroStrategy are also cashing in on the action. Coinbase saw its stock climb nearly 8%, while MicroStrategy added 6% to its value. Earlier today, MicroStrategy confirmed it recently bought another 1,070 Bitcoins for a cool $101 million, pushing its total holdings to 447,470 BTC. Late last year, Bitcoin enjoyed a massive rally following post-election optimism, though it cooled in December. Analysts predict even bigger things this year, with Fundstrat’s Tom Lee forecasting Bitcoin could hit $250,000. QCP Capital, though, thinks any big catalysts from Trump will come after the January 20th inauguration. They pointed out that the $100,000 level is a battleground. This was the same spot where Bitcoin hit a brick wall back in December, with heavy selling pressure driving prices back down. But this time, things look a little different. “Funding levels are much healthier now,” said QCP Capital. In December, funding rates for Bitcoin futures exploded past 60%, signaling wild speculative behavior. That’s not the case now, which makes this rally feel less like a sugar high and more like something sustainable. They added that: “With no crypto-specific catalysts on the horizon, focus will be on the first US jobs report of the year this Friday (10-Jan). However expectations for Fridays NFP will be firmed up through the week with the release of JOLTS job opening numbers and ADP on 7-Jan and 8-Jan respectively.” This metric measures how much Bitcoin costs on Coinbase versus Binance, and earlier this year, it hit rock bottom—its lowest point since the FTX disaster of 2022. But now? It’s climbing again, and that’s a big deal. When this premium rises, it usually means U.S. investors are diving back in. Institutions and retail buyers are clearly hungry for Bitcoin. All this is happening as the US Congress meets to officially certify president Trump’s 2024 election win. Four years ago, the Capitol was chaos, with riots and protests. This time? No drama. No riots. No noise. Even Democrats didn’t bother raising objections. It’s a stark contrast to the circus we saw back in 2021. Vice President Kamala Harris was in charge of the session, and she kept it calm. In a video shared with NBC News, she said her job was a “sacred obligation.” Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
