Bitcoin has passed another record high with a rise to a new all-time high above $107,000.
After regaining the $100,000 psychological level, Bitcoin (BTC) strengthened further, reaching highs of $107,172 on US-based crypto exchange Coinbase. The leading digital asset rose to this new HIGH as the world's largest corporate owner of BTC bought another $1.5 billion worth of the asset.
Bitcoin broke to over $104 on December 5, 2024.
However, taking profit took it down to lows of $97,044, where it struggled to move up over the next nine days. On December 15, 2024, bulls pushed the price above the previous high as the market accepted positive comments from the US president Donald Trump.
BTC spiked to over $107k when MicroStrategy received 15,350 BTC to bring its total holdings to 439,000. As the price of BTC jumped to its new ATH, MicroStrategy shares also rose – starting with a 6.5% increase in pre-market trading.
Bitcoin's rally, which analysts predict could extend further, also marked another important milestone.
In a post on X, veteran trader Peter Brandt pointed to the Bitcoin-to-gold ratio reaching a new HIGH of 39. At this point, it takes 39 ounces of gold to buy one BTC. Brandt suggested that the next resistance could be at 89, indicating a continued strengthening of Bitcoin against the precious metal. Gold was trading at $2,670.3 an ounce at the time of writing.
Elsewhere, spot currency exchange Bitcoin has seen net inflows for five consecutive days.
The market recorded total inflows of $2.17 billion between December 9 and 13. With a friendly Trump administration about to take over in the US, catalysts such as spot ETFs and greater regulatory clarity are driving strong sentiment, with the next target for BTC at $110,000.
