Bitcoin Nears $100K, With Crypto Market Cap at Record $3.4T
Bitcoin (BTC) prices are nearing $100,000, recently peaking above $99,200 before stabilizing around $99,000. The market capitalization has reached a record $3.4 trillion, with BTC comprising over 56% of this total. U.S. spot BTC exchange-traded funds (ETFs) have seen over $1 billion in net inflows, led by BlackRock and Fidelity. The rise in BTC is influencing other cryptocurrencies, with Ether (ETH) increasing nearly 9% and notable memecoins rising up to 27%. Solana (SOL) and Cardano (ADA) have also seen significant gains. XRP surged 25% following the announcement of SEC chair Gary Gensler's resignation. Traders anticipate continued strength in BTC prices, supported by demand and easing monetary policies. BTC futures for March, June, and September 2025 are trading above $100,000, with a call option at that strike showing over $2 billion in open interest. A short-term pullback from the $100,000 level is expected.
