This year's crypto market rally continues to record impressive results after the world's largest digital asset surged on Wednesday evening.
Bitcoin breached the $100,000 mark at 9:45 pm ET to rest above $103,000 at that level, CoinGecko data shows.
In the last 24 hours, the native token of Bitcoin Layer-2 Stacks (STX) was the biggest gainer, rising 15% to $3, while The Sandbox (SAND) was second, up 14% to $0.87.
The rally has seen a resurgence with market enthusiasm shot through the cracks. Long term altcoins Associated with Ethereum and Bitcoin.
Ethereum Classic (ETC) and Bitcoin SV (BSV) extended their rally. ETC rose 17 percent to $37 this week, while BSV gained 18 percent to $84.30.
Given the historic milestone, investors are wondering how far the rally has to go before President-elect Donald Trump returns to the White House on January 20.
However, market analysts say the rally is heating up.
“Looking at past market cycles, it looks like we're still reasonably in this bull market,” said eToro market analyst Josh Gilbert. Decrypt.
Although Gilbert urges market participants to remember to “take profits” along the way, he encourages them to remember that assets rarely last “forever.”
“Falling for Bitcoin is par for the course, but now it looks like it will take something big to slow down Bitcoin.”
Others, like Pav Hundal, lead analyst at Swyftx, agree.
“The market is still showing a lot of bidding activity,” Hundel said. Decrypt. “Crypto exchange volumes hit new highs in November and order flows continue to push as well. This is a direct rally.
Wednesday's controversy follows Trump's selection of former Securities and Exchange Commission commissioner Paul Atkins as the next chairman of the regulatory agency.
“Crypto users will be happy that Bitcoin has pushed $100,000 behind Atkins' candidacy for SEC chairman Gary Gensler,” Hunal added. “They couldn't have scripted it.”
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