Bitcoin Price Tops $96K for First Time Since February Correction
Bitcoin surpassed $96,000, marking its highest level since February's decline linked to U.S. trade policies. The cryptocurrency has rebounded 21% from its February low of $78,900 and 28% from an early April low of $75,000. Analysts attribute this surge to long-term momentum, with Bitcoin transitioning from a speculative asset to a key component in institutional portfolios. Factors driving this trend include consistent purchases by BTC treasury companies, such as Strategy, which recently bought $1.4 billion worth of Bitcoin, and Metaplanet's announcement of a U.S. subsidiary after accumulating $481 million in Bitcoin. Steady capital inflows through ETFs indicate sustained institutional interest. Some observers predict higher prices due to Bitcoin decoupling from other risk assets and the uncertain global monetary outlook. Current trading volume has increased to $30 billion, reflecting heightened market sentiment as Bitcoin trades around $96,200.
