Bitcoin Hits $102,000, Market Cap Reaches $2 Trillion Amid Weakening Dollar

Jan 6, 2025, 02:56 PM

On January 6, 2025, Bitcoin's price surged past $100,000 for the first time this year, reaching as high as $102,000 and bringing its market capitalization to $2 trillion. The rally underscores growing investor confidence and market optimism, with factors such as rising futures funding rates and a weakening U.S. dollar contributing to the surge. Some analysts attribute the bullish momentum to the 'Trump Trade' continuing to spur sentiment. Market participants note that shorts are getting squeezed, and there is speculation that Bitcoin could see further gains in the coming months.