Bitcoin’s at USD 100K: Away from Complacency, but Being More Focused on Key Underpinning Factors to Look Ahead

As we all know, Bitcoin (BTCUSD) has surpassed the $100,000 mark, achieving this milestone for the first time in its history. Since the initial recorded transaction of BTC in 2009, during which a user exchanged 5,000 BTC for merely $0.0001 per coin, the value of the world's pioneering cryptocurrency has surged by an astonishing 10 billion percent.

The market remains firmly within a bullish phase, suggesting that BTC may reach an unprecedented level before the end of the year — though, of course, we should be wary of certain volatility, so it’s not going to be a straight line up.

What’s also important is that this current bull market is fundamentally distinct from prior cycles, which were fueled by the expectation of widespread adoption. That pivotal moment has now arrived. Bitcoin has transitioned from a realm dominated by retail speculation to one where it is increasingly accepted by both institutions and retail investors.

In January 2023, the SEC approved the first-ever Bitcoin ETFs. Consequently, significant financial entities such as BlackRock, Fidelity, and Vanguard are now facilitating indirect access to Bitcoin for institutional investors through these ETFs. It is reasonable to assert that institutions have indeed joined the fray. In November 2024, U.S. spot Bitcoin ETFs recorded unprecedented net inflows totaling $6.2 billion.