Introduction
As Bitcoin (BTC) recently broke through the historical high, surpassing the $108,000 mark, market sentiment and trends have attracted widespread attention. The driving force behind this rally comes not only from the increasing institutional demand for cryptocurrency but also from expectations of a rate cut by the United States Federal Reserve (Fed) and policy changes from the incoming cryptocurrency-friendly government. These factors have collectively propelled the rise of Bitcoin and laid the foundation for market trends in the coming months.
Bitcoin BTC Latest Price Trends Today
BTC (Bitcoin) NO.1
Robinhood Online
$104,250.74
-$2,530.72
-2.37%
Real-time data · 15:51:52
108,353.00
24H Highest
103,137.82
24H Lowest
108,268.45
Historical High
0.04865
Historical Low
750,000
24H Trading Volume
$783.6 billion
24H Trading Amount
21 million
Total Supply
$206.16 billion
Market Value
+5.06%
24H Fluctuation
19,797,703
Circulation Quantity
106,332.00
Yesterday Open
106,478.47
Yesterday Close
94.27%
Circulation Rate
Candlestick Trends
All
24H
7 Days
30 Days
Past Three Months
Past Year
Let tabIdx = 0;
Let timeIdx = 0;
Let type = ‘all’;
$(‘.echarts_head .head_left_item’).click(function () {
$(‘.echarts_head .head_left_item’).removeClass(‘active’);
tabIdx = $(this).index();
$(this).addClass(‘active’);
if (tabIdx == 1) {
$(‘#tvChart’).hide();
$(‘#trendChart’).show();
return;
}
$(‘#trendChart’).hide();
$(‘#tvChart’).show();
})
$(‘.echarts_head .head_right_item’).click(function () {
$(‘.echarts_head .head_right_item’).removeClass(‘active’);
timeIdx = $(this).index();
$(this).addClass(‘active’);
})
Var klineData;
GetTjList();
Function GetTjList(start, interval, type) {
Let url = ‘/e/extend/api/index.php?m=v2&c=kline&coin=binance_BTC_USDT&id=1’;
$.ajax({
Url: url + ‘&start=’ + start + ‘&interval=’ + interval + ‘&type=’ + type,
Data: ”,
Type: ‘post’,
Cache: false,
DataType: ‘json’,
Success: function (resdata) {
klineData = resdata
setTimeout(function () {
initKline(type)
}, 500);
},
Error: function (e) {
Console.log(‘resdata e’, e);
// alert (“异常！”);
}
});
}
Function InitKline(type) {
Let typeStr = type ? type : ‘all’
Const periodTypeList = {
‘all’: 3,
‘d’: 14,
‘w’: 2,
‘m’: 2,
‘3m’: 3,
‘ydt’: 3,
}
Const coinName = ‘BTC’;
Const periodType = periodTypeList[typeStr];
Const historyData = klineData
.Sort((cur, next) => cur.T – next.T)
.Map((item) => {
Return {
Time: item.T,
Low: item.l,
High: item.h,
Open: item.o,
Close: item.c,
Volume: item.v,
};
});
Const exchange = “528BTC”;
Const tradePair = `${coinName}/USDT`
Const config = {
PeriodType,
DatafeedConfig: {
PeriodType,
HistoryData,
SymbolInfo: {
Ticker: `${exchange}:${tradePair}`,
Name: tradePair,
Description: tradePair,
Type: “528btc”,
Exchange,
},
},
TradingViewConfig: {
Symbol: `${exchange}:${tradePair}`,
Interval: periodType,
Container: `tvChart`,
},
}
Let length = historyData.length <= 90 ? (historyData.length) - 1 : 90;
Console.log(length)
Const visibleRangeOption = {
From: historyData[length].time / 1000,
To: historyData[0].time / 1000,
};
Const widget = generateTradingViewAndMount(config);
Widget.onChartReady(() => {
Const chart = widget.chart();
Chart.setVisibleRange(visibleRangeOption);
});
}
Function ChangeKline(type) {
Type = type;
Const currentTimeStamp = Date.now();
Const oneDayAgoTimeStamp = currentTimeStamp – (24 * 60 * 60 * 1000);
Const sevenDaysAgoTimeStamp = currentTimeStamp – (7 * 24 * 60 * 60 * 1000);
Const oneMonthAgoTimeStamp = new Date().setMonth(new Date().getMonth() – 1);
Const threeMonthsAgoTimeStamp = new Date().setMonth(new Date().getMonth() – 3);
Const oneYearAgoTimeStamp = new Date().setFullYear(new Date().getFullYear() – 1);
Const time = {
‘all’: ”,
‘d’: oneDayAgoTimeStamp,
‘w’: sevenDaysAgoTimeStamp,
‘m’: oneMonthAgoTimeStamp,
‘3m’: threeMonthsAgoTimeStamp,
‘ydt’: oneYearAgoTimeStamp,
}
Const interval = {
‘all’: ”,
‘d’: ‘5m’,
‘w’: ‘1h’,
‘m’: ‘1h’,
‘3m’: ‘1d’,
‘ydt’: ‘1d’,
}
If (tabIdx == 1) {
GetTrendLine(type)
Return;
}
GetTjList(time[type], interval[type], type)
}
Let bid = ‘BTC’
Highcharts.setOptions({
Lang: {
RangeSelectorZoom: ”,
ThousandsSep: ”
},
Global: {
UseUTC: false
}
});
GetTrendLine(type)
Function GetTrendLine(type) {
$.getJSON(‘https://bullrunflash.com/e/extend/api/index.php?m=news&c=kdata&type=’ + type + ‘&id=1&cid=1’, function (data) {
Var T = [];
Var u = [];
Var b = [];
Var a = [];
Var v = [];
Data.data.forEach(item => {
Let [time, ui, bi, ai, vi] = item;
U.push([time, ui]);
B.push([time, bi]);
A.push([time, ai]);
V.push([time, vi]);
})
Chart1 = Highcharts.stockChart(‘trendChart’, {
Chart: {
ZoomType: ‘x’,
Height: 520,
Width: 780
},
Colors: [‘#5984FB’, ‘#AE5CCC’, ‘#F7D049’, ‘#777’,
‘#24CBE5’, ‘#64E572’, ‘#FF9655’, ‘#FFF263’, ‘#6AF9C4’],
RangeSelector: {
Selected: 5,
Enabled: false,
InputDateFormat: ‘%Y-%m-%d’
},
Scrollbar: {
Enabled: false
},
Tooltip: {
Split: false,
Shared: true,
DateTimeLabelFormats: {
Millisecond: ‘%Y-%m-%d %H:%M’,
Second: ‘%Y-%m-%d %H:%M’,
Minute: ‘%Y-%m-%d %H:%M’,
Hour: ‘%Y-%m-%d %H:%M’,
Day: ‘%Y-%m-%d %H:%M’,
Week: ‘%Y-%m-%d %H:%M’,
Month: ‘%Y-%m-%d %H:%M’,
Year: ‘%Y-%m-%d %H:%M’
}
},
YAxis: [{
Title: {
Text: ‘Volume’,
Style: {
Color: “#7cb5ec”
}
},
Visible: false,
Height: ‘80%’,
Labels: {
Formatter: function () {
Return (this.value / 1000000000).toString() + ‘B’;
},
Style: {
Color: “#7cb5ec”
}
},
Opposite: false,
}, {
Title: {
Text: ‘Price(USD)’,
Style: {
Color: “#009933”
}
},
Visible: false,
Labels: {
Style: {
Color: “#009933”
}
},
Height: ‘80%’,
}, {
Title: {
Text: ‘Price(BTC)’,
Style: {
Color: “#f7931a”
}
},
Visible: false,
Labels: {
Formatter: function () {
Return this.value + bid;
},
Style: {
Color: “#f7931a”
}
},
Height: ‘80%’,
}, {
Title: {
Text: ‘Market Cap’,
Style: {
CoDriving Force Behind Bitcoin’s Rise
Recently, the price of Bitcoin broke through the $108,000 mark, although there was a pullback after hitting a new all-time high, traders are still waiting for the expected Federal Reserve interest rate decision. The market generally expects the Fed to cut rates by 1 basis point in December, a decision that will affect market liquidity and the direction of Bitcoin. According to the CME Fed Watch tool, the probability of a rate cut in December is as high as 95.4%. This expectation has driven the rise in the price of Bitcoin, especially against the backdrop of the Trump administration’s positive support for the cryptocurrency industry, further enhancing market optimism with Bitcoin’s “Trump rally”.
However, traders currently predict that the Fed will likely pause rate cuts in January next year, with an almost 80% probability of keeping rates in the 4.25-4.50% range, and only a 16.3% chance of another rate cut. This may not be good news for market liquidity.
Since the beginning of 2024, the price of Bitcoin has risen by over 59% due to changes in market sentiment and improvements in regulatory environment. The participation of institutional investors, especially with the launch of Bitcoin ETFs, has injected fresh blood into the market and further boosted the price of Bitcoin. At the same time, the US government’s cryptocurrency policy is gradually becoming clearer, with some state governments proposing to allow public funds to invest in Bitcoin, further driving this trend.
Future Trends: Rate Cuts and Policy Support
Analysts from K33 Research believe that the December meeting of the Federal Open Market Committee (FOMC) will intensify market volatility and lay the foundation for Bitcoin’s momentum during the Christmas holidays. If the Fed continues to cut rates as expected, it may provide more liquidity to the Bitcoin market. While a short-term pullback is expected after the rate cut, the upward momentum of Bitcoin remains strong.
In addition, the crypto-friendly policies of the Trump administration have brought more support to the market. According to Trump’s statements, he plans to strengthen regulation of cryptocurrencies to ensure the US becomes a global leader in the cryptocurrency industry. Furthermore, the Bitcoin Strategic Reserve Act proposed by Wyoming Senator Cynthia Lummis, if passed, could inject greater confidence and momentum into the Bitcoin market.
New Cycle in the Cryptocurrency Market: Driven by ETFs and Institutional Demand
Bitfinex’s latest report points out that the current upward cycle of Bitcoin is different from before, with institutional investors and Bitcoin ETFs driving the cycle. In 2024, the launch of Bitcoin and Ethereum spot ETFs and the growing institutional demand attracted more traditional investors to enter the cryptocurrency market, further boosting confidence in Bitcoin.
According to analysts at Bitfinex, although Bitcoin has hit a new all-time high, in the next few months, BTC may continue to rise. It is expected that by 2025, the price of Bitcoin could reach $120,000 to $200,000 or even higher, especially as the Bitcoin halving event approaches, the market may experience another significant uptrend.
Market Correction or Maintaining an Uptrend?
Despite some cautious voices in the market, suggesting that the current price of Bitcoin may already reflect rate cut expectations and may experience a short-term pullback, in the long run, institutional demand and crypto-friendly policy support will likely keep Bitcoin in an uptrend for some time.
Furthermore, analysts believe that 2025 may be a key year for Bitcoin and cryptocurrencies, especially under the Trump administration and new regulatory framework, the market’s support for digital assets will further strengthen. The active promotion by state governments, such as Ohio and Pennsylvania proposing to include Bitcoin in state reserves, also indicates the growing status of Bitcoin as an asset class.
Conclusion
In conclusion, Bitcoin’s rise is not accidental. With possible rate cuts by the Fed, crypto-friendly government policies, and active participation of institutional investors, Bitcoin is expected to continue its upward trend in the coming months. While the market may experience minor corrections, in the long run, market optimism and capital inflows will continue to drive the price of Bitcoin to higher levels.
Against this backdrop, investors should not only pay attention to short-term market fluctuations but also focus on medium to long-term market trends, understanding Bitcoin’s unique position in the global financial system and the significant potential it may bring.
