Bitcoin BTC/USD Breaches $100,000 Milestone, Dogecoin DOGE/USD Hints at Trend Reversal

This week brought a flurry of activity to the cryptocurrency market. Bitcoin BTC/USD breached the $100,000 milestone, while Ethereum ETH/USD and Dogecoin DOGE/USD also saw significant gains.

This week has seen a flurry of activity in the cryptocurrency market, with Bitcoin BTC/USD breaching the $100,000 milestone and Ethereum ETH/USD and Dogecoin DOGE/USD also notching up significant gains.

On Thursday, the cryptocurrency market experienced a sharp rally following a trade deal between the Trump administration and the United Kingdom. Bitcoin, the leading cryptocurrency, nearly hit $104,000 in a volatile trading session.

It is to be noted that the cryptocurrency breached the $100,000 milestone on Monday and spent the last three months hovering around that level.

Bitcoin's trading volume also increased by 59% in the last 24 hours as the cryptocurrency continues to experience heightened volatility.

Earlier this week, former White House Communications Director Anthony Scaramucci expressed his concern over President Donald Trump‘s increasing involvement in the cryptocurrency industry.

Speaking at the Financial Times Digital Asset Summit, Scaramucci shared his thoughts on Trump-related crypto ventures, including a Solana SOL/USD-based meme coin and a stablecoin backed by his son Eric Trump.

The investment firm, founded by Scaramucci in 2017, manages a tokenized credit fund that invests in private companies and is backed by cryptocurrency investors.

However, Scaramucci expressed his concern that these ventures could distract from the more pressing issue of developing sound digital asset policies for the U.S.

After a period of relatively quiet price action, Dogecoin may be preparing for a trend reversal, according to crypto trader Trader Tardigrade.

In a recent tweet, the trader highlighted a potential “Diamond Bottom” pattern on the daily chart, a classic signal of an existing trend coming to an end and a new one beginning.

Shares of MARA Holdings Inc. MARA traded lower on Thursday after the company reported a 15% month-over-month decrease in Bitcoin mining in April.

The company said it mined 705 Bitcoin in April, down from 829 in March and slightly lower than the 706 Bitcoin produced in February.

Shares of MARA Holdings closed down 3.3% at $21.61 on Thursday. The stock is down 57% year-to-date.

Berkshire Hathaway Inc.'s (NYSE:BRKa) (NYSE:BRKb) Chairman and CEO Warren Buffett has built a significant investment legacy over the years.

However, Bitcoin, the asset that the billionaire investor once described as ‘rat poison,’ has been delivering returns at a faster rate since its listing.

According to a recent report by ValueHedge, Bitcoin has generated an annualized rate of return of 56.3% since its listing in 2009, while Berkshire Hathaway has delivered an annualized return of 11.7% on its stock price performance.