Bitcoin (BTC) Price Hits New All-Time High of $95,672, Targets $100k

Bitcoin, the world's largest cryptocurrency, hit a new all-time high of $95,672 on Thursday after its price rose to 3.55% in the past 24 hours

Bitcoin price hit a new all-time high again on Thursday with a 3.55% gain in the past 24 hours, now targeting the next key level at $100k.

Bitcoin price reached a new highest price level for the first time on Nov. 21. The price surged 42% from $67,400 a month ago and rose triple digits to 154% in a year.

The U.S. election still became the biggest support for the price movement ever since Donald Trump won and has a vision for better crypto regulations. He also picked several names as his secretary and identified them as pro-crypto personalities, including Elon Musk and Robert. F. Kennedy Jr.

Bitcoin ETF trading options are also boosting crypto prices due to the high level of market interest in the crypto-related product. On Tuesday, BlackRock’s iShares Bitcoin Trust (IBIT) hit notional exposure of up to $1.9 billion.

Another trading option will be released on Nov. 21, including Bitwise (BITB), Grayscale (GBTC), and Grayscale’s mini trust version (BTC).

Bitcoin price of $100k is on the market eye

Michael Saylor, executive chairman of MicroStrategy, in an interview with CNBC on Nov. 14, stated that he is already planning for the New Year’s Eve party to celebrate the $100k price before the end of the year.

“I think it’s going to go up from here. I’m planning the $100,000 party and I’m thinking it’s probably going to be New Year’s Eve at my house. So I would be surprised if we don’t go through $100,000 in November or December,” said Saylor on the interview.

Beyond the $100k target price, Bernstein Research has an ambitious bullish target price for 2025 of $200k. This projection has been updated from $150k due to the rise in institutional demand in many places.