Bitcoin Touches Record $97,500, Surges 45% In Two Weeks: Will It Hit $100,000 Soon?

Bitcoin has more than doubled in value this year, with a remarkable 45 per cent increase in just the past two weeks. It had stood at $67,100 on November 5.

Bitcoin price today: Surges 45% in two weeks, approaches $100,000 threshold

Bitcoin price on Thursday surged to its record $97,628, marking a key milestone even as it approaches the $100,000 threshold. The continued upside in the world’s biggest cryptocurrency follows Donald Trump’s election as the next US president, alongside the election of several pro-crypto lawmakers to Congress, sparking optimism for the future of digital assets.

Bitcoin has more than doubled in value this year, with a remarkable 45 per cent increase in just the past two weeks. It had stood at $67,100 on November 5.

As of 1045 IST, the Bitcoin live price stood at $97,481.37 per (BTC/ USD) with a current market cap of $1.93 trillion. Its 24-hour trading volume was $84.47 billion. Bitcoin was up 5.84% in the last 24 hours with a circulating supply of 19.79 million, according to crypto exchange Binance.

“Bitcoin’s ascent shows no signs of slowing down. Trump has long expressed strong support for digital currencies, promising to position the US as the ‘Crypto Capital of the World’. During his campaign, he even advocated for a national Bitcoin stockpile. Since being elected, his social media company has engaged in talks to acquire crypto trading platform Bakkt, further fuelling optimism for a more crypto-friendly environment under the upcoming administration," said Sumit Gupta, co-founder of CoinDCX.

According to Gupta, the momentum is also building in the institutional space, with the launch of options trading for BlackRock’s iShares Bitcoin Trust ETF (iBIT) seeing a strong debut. Call options — bets on rising prices — have been particularly popular, reflecting growing institutional interest.

“Additional options for Grayscale and Bitwise Bitcoin ETFs are set to launch in the coming days, signalling further expansion of Bitcoin’s presence in the financial mainstream,” he added.

Since Trump’s victory, the broader crypto market has added over $800 billion in value, signalling a bullish outlook for Bitcoin and digital assets in general. As the market continues to heat up, Bitcoin is on track to reach new all-time highs, with the $100,000 mark now in sight.

“This surge underscores the growing optimism surrounding the crypto space, driven by a political and economic landscape that increasingly favours digital assets. As Bitcoin continues its ascent, the future looks brighter than ever for the crypto market,” the CoinDCX founder said.

Balaji Srihari, business head at CoinSwitch, said BlackRock’s Bitcoin ETF debuting options trading on Nasdaq is a big sign of increasing crypto adoption. Adding to the momentum are the speculations that Microsoft might incorporate Bitcoin into its treasury, a move that would further solidify institutional confidence.

“However, amid the excitement, traders should stay cautious. Big price jumps often lead to sharp corrections, and using too much leverage could amplify risks during volatile periods,” Srihari added.

According to Binance, most cryptocurrencies were trading higher on Thursday. Ethereum was up 0.45 per cent at $3,130, while Solana was higher by 2.83 per cent at $240.87. However, Elon Musk’s favourite Dogecoin was trading marginally lower by 0.23 per cent at $0.387.