Bitcoin (BTC) Reaches the Psychological Price Level of $100,000

In a key milestone in the cryptocurrency sector, Bitcoin ($BTC) has exceeded the psychological price level of $100,000. This marks the first instance of surpassing the $100K level

Bitcoin (BTC) price has risen above the psychological price level of $100,000 to hit a new high of 2024. Notably, this is the first time that Bitcoin has managed to surpass the $100K mark since February this year.

As per the latest market data, Bitcoin (BTC) price reached a high of $103,969.53. However, after a slight dip, the present price of the top crypto asset is $102,663.38. This shows a 3.85% price surge over the past 24 hours. In addition to this, over the past seven days, the price of Bitcoin has jumped by a notable 6.02%. Moreover, the 1-month performance of the flagship crypto asset signifies a massive 34.00% increase in price.

Among the noteworthy factors behind this price rally is the start of negotiations between the U.S. and China. In this respect, the U.S. President Donald Trump recently teased a “major trade deal” on his official social media forum Truth Social.

The respective development would potentially emerge as a diplomatic landmark after the economic turmoil triggered by large-scale tariffs implemented on Chinese imports. Additionally, the U.S. Treasury Secretary Scott Bessent is also ready to visit Switzerland to have discussions with China in order to de-escalate the escalating trade war between the two countries.

Along with that, the U.S. Federal Reserve's latest policy update also supports this growing positive momentum around Bitcoin. Hence, under the lead of Chairman Jerome Powell, the Fed has decided not to change interest rates.

Overall, increasing confidence in Bitcoin (BTC) underscores its potential to reach new all-time high price levels in the near term.