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Bitcoin Surges to Record $101,200, Up 130% in 2024 as Volatility Index Hits Lows, $102,000 Imminent

Dec 12, 2024, 10:56 AM

Bitcoin has surged past the $100,000 mark, trading at approximately $101,200, marking its highest daily close ever. This rise represents a significant increase of over 130% in 2024 alone. Analysts attribute this rally to various factors, including a flush of leverage in the market, the influence of exchange-traded funds (ETFs), and a stable funding rate that remains below historical norms. The cryptocurrency's volatility index has reached record lows, signaling increased confidence among major investors. As Bitcoin approaches the $102,000 level, some experts suggest that a further rise to $110,000 could be imminent. The recent price movement is seen as a monumental milestone in Bitcoin's evolution as a global financial asset, with many viewing it as a shift away from speculative trends associated with Web3 and NFTs.