Bitcoin's Price Officially Breaks $100,000: 4 Key Drivers Behind the Milestone

 has officially crossed the $100,000 mark, setting new all-time highs. Once dismissed by many as a scam or speculative experiment, Bitcoin has grown to become one of the top 20 most valuable assets globally, with a total market cap nearing $2 trillion. Over the past decade, Bitcoin has undergone one of the most significant perception shifts in financial history, with mass media and institutions reversing their skepticism and embracing its potential. The $100K milestone represents more than just a price point—it’s the result of years of increasing mainstream acceptance. Institutional investors are integrating Bitcoin into their portfolios, Bitcoin ETFs are breaking records, favorable global economic trends are driving demand, and political shifts are creating a more supportive environment. Let’s take a closer look at the key factors behind Bitcoin’s rise to over $100,000.

US Bitcoin ETFs: Validation For Traditional Investors

On January 10th, the SEC granted regulatory approval for 11 U.S. Bitcoin exchange-traded funds (ETFs). While European-listed exchange-traded notes (ETNs) had been available for years, the approval and launch of U.S.-based Bitcoin ETFs marked a pivotal moment for Bitcoin. This milestone not only eliminated significant barriers to entry for traditional investors but also reshaped public perception of Bitcoin as a legitimate and regulated financial asset. Here are some highlights.

Macroeconomic Factors: Bitcoin as a Hedge

Global economic conditions have increasingly positioned Bitcoin as an alternative investment for investors looking to protect and grow their wealth. Traditional investment options like bonds and savings accounts have become less attractive due to a combination of low interest rates, rising inflation, and negative real yields in several major economies. These shifts have driven both retail and institutional investors to view Bitcoin as a hedge against economic instability and a store of value, often referred to as digital gold.

Political Support: A Crypto-Friendly Climate

The political and regulatory climate is increasingly tilting in favor of cryptocurrencies, providing strong momentum for Bitcoin's growth. Governments and policymakers worldwide are recognizing the potential of blockchain technology and digital assets, shifting from skepticism to proactive engagement. These political tailwinds, coupled with regulatory advancements, are fostering a more secure and predictable environment for Bitcoin, boosting investor confidence.

Continued Institutional Adoption: Bitcoin Goes Mainstream

Institutional investors and corporations are driving Bitcoin’s transformation from a niche digital asset to a widely accepted investment and financial tool. Seen as a hedge against inflation, a store of value, and an alternative to traditional financial instruments, Bitcoin’s appeal has surged among major players in the financial world. This growing adoption is a key factor in Bitcoin’s price reaching new highs, underpinned by its integration into treasury strategies, investment portfolios, and payment systems.

Conclusion: Your Opportunity to Join the Bitcoin Momentum

As Bitcoin soars past the $100,000 pricepoint and sets the stage for further growth, there’s no better time to take your trading to the next level. Bybit (powered by SATOS) invites Dutch traders to participate in our 

, where you can can win an VIP trial to enjoy 

This exclusive event is your chance to experience Bybit’s industry-leading VIP Program while capitalizing on Bitcoin’s historic rise. Don’t miss out—

Intermediate

Bitcoin at.jpg

Bitcoin Officially Breaks $100,000: 4 Key Drivers Behind the Milestone

Ondo Finance has launched a new institutional-grade bridging solution for tokenized real-world assets (RWAs), leveraging LayerZero’s decentralized verifier network (DVN) for enhanced security.

The S&P 500 rose 0.57% to a record high, driven by investor focus on upcoming inflation data, despite concerns over new tariff threats and the Federal Reserve's cautious stance on rate cuts.  Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 2.60%, with Bitcoin and Ether dropping by 4.08% and 3.27%, respectively in the past 24 hours.

Today's top performer is FTM, which surged 9.9% following Sonic Labs' partnership with OctavFi for advanced on-chain financial management.

Sonic Labs (FTM), founded in 2018, formerly known as Fantom Foundation, supports the development of Sonic, a new layer-1 blockchain designed for fast, efficient transactions and secure connectivity to Ethereum. It focuses on creating decentralized applications and managing governance for the Sonic ecosystem, which is set to launch later in the year. 

 to bring institutional-level financial management, advanced on-chain treasury management, and financial reporting to its protocols.

Check Out the Latest Prices, Charts, and Data of 

 a new institutional-grade bridging solution for tokenized real-world assets (RWAs), leveraging LayerZero’s decentralized verifier network (DVN) for enhanced security. This solution enables seamless transfers of USDY, Ondo’s yield-bearing tokenized US Treasuries, across Ethereum, Arbitrum, and Mantle. The bridging architecture incorporates trusted bridge providers like PolyhedraZK and Axelar, along with Ondo’s own DVN, ensuring secure and decentralized transaction validation. The integration is available now via Ondo’s frontend and Stargate Finance, with support for additional chains planned.

Yesterday, BTC spot ETF flows recorded a total outflow of $122.8M, including $36.1M from GBTC and $86.7M from non-GBTC funds.

Check Out the Latest Prices, Charts, and Data of  

, requiring wallet and social handle registration by Dec 2, 2024, 2 PM UTC. Eligibility criteria include completing 3 transactions across 2 apps on Movement's testnets and finishing Road to Parthenon quests. After TGE, users can claim MOVE tokens on Ethereum Mainnet or Movement Mainnet, with the latter offering a 1.25x multiplier. More airdrop seasons will follow post-mainnet launch.

Beginner

EN 1.png

Ondo Launches Institutional-Grade Bridging for Tokenized RWAs with LayerZero Security

How to Use the Bybit Card to Earn 15% Cashback on Top of All Black Friday Deals

Originally an American tradition, Black Friday has evolved into a global shopping event and is now a significant date in the Dutch retail calendar. In the Netherlands, Black Friday has grown in popularity, with major retailers like Bol.com, Coolblue, MediaMarkt, and Bijenkorf offering deals across a wide range of products.

As a nation known for valuing savings, Black Friday provides an excellent opportunity to stack discounts and maximize value. Bybit's Black Friday Card Promotion adds an extra layer of savings with 

 on both online and offline purchases. Explore how the Bybit Card works, along with practical examples of savings during Black Friday shopping, to make the most of this year’s event.

How Can You Take Part in This Black Friday Promotion?

Joining the Bybit Black Friday Promotion is simple! Follow these steps to start earning 

 ontop of all your Black Friday deals Weekend:

Practical Examples of Savings With Bybit Card

Simply input your Bybit Card details at checkout or use instant payment methods like 

 to complete your online purchases seamlessly. Cashback is automatically applied to your account, making savings effortless.

For offline purchases, use your Bybit Card as a physical card or digitally through 

. As long as the store accepts PIN payments, you’ll earn cashback rewards instantly.

After the Black Friday promotion ends, the Bybit Card reverts to its 

 offer, allowing you to save on all your purchases through the rest of the year. Whether you’re buying Sinterklaas gifts, stocking up for Christmas, or grabbing post-holiday deals, the savings keep rolling in.

The Bybit Card is your ticket to maximizing savings on the biggest shopping day of the year. From tech to festive essentials, every purchase becomes more rewarding.

Learn more about the Bybit Card Black Friday Promotion 

Copy of Bybit Dutch_2406-T28786_Daily Bits_1600x900 (3).png

How Can You Use the Bybit Card to Earn 15% Cashback on Top of All Black Friday Deals?

Bitcoin Hits New All-Time Highs: 8 Things Trump Is Saying About Cryptocurrency and What It Means for Bitcoin and Altcoins

With Bitcoin and the total cryptocurrency market cap surging to highs- returning to its 2021 peak—many are attributing this renewed bullish momentum to Donald Trump’s recent U.S. election victory. In this article, we’ll explore 8 key promises and policies Trump has put forth for the sector and the potential impact on both blue chip and meme coin cryptocurrencies.

Donald Trump & Crypto: The Bull Case for The Sector

The newly elected U.S. President, Donald Trump, has outlined a series of plans for the cryptocurrency sector, signaling major shifts in U.S. policy. With the United States accounting for approximately 

, U.S. policy and leadership play a significant role in shaping the sector. Here are eight key takeaways and promises from his proposed initiatives:

These factors collectively contribute to a positive outlook for the cryptocurrency sector under the current administration.

The election outcome has also positively influenced blue-chip cryptocurrencies:

Trump's win has significantly impacted the meme-coin sector. Following the victory,

 surged by 145%, outperforming Bitcoin and Ethereum in growth. This rally reflects heightened speculation that Trump's pro-crypto regulatory stance could indirectly support meme-coins, which are often driven by community engagement and viral appeal. Meme-coins, while volatile, present high-risk, high-reward opportunities, and recent events have drawn increased attention from traders looking to capitalize on this momentum.

Capitalizing on Trump’s Win and Riding the Crypto Wave

With the markets heating up and Bitcoin breaking new all-time highs, are your friends and family asking about how to get started with crypto? Now’s the perfect time to help them dive in—and earn exclusive rewards while you’re at it—with

Bybit Referral Rush: Exclusive Rewards for the Netherlands

During the Referral Rush, Dutch users can invite friends and earn exclusive bonuses alongside the standard Bybit Referral Program rewards:

Get referral rewards and a 30% commission on transactions made by your referees across Spot, Copy Trading, and Bybit Card. Your referees must deposit and trade to qualify.

 Each friend you invite will earn an additional 100 USDT, a special reward just for Dutch users.

 Earn 20 USDT for every successful Bybit Card referral.

Help your friends and family get started in crypto, and let the rewards stack up! Whether it’s trading, using the Bybit Card, or exploring spot trading, your referrals earn rewards—and so do you!

Ready to start sharing the benefits of crypto? Invite now and unlock rewards for you and your friends 

Copy of Bybit Dutch_2406-T28786_Daily Bits_1600x900 (2).png

Bybit Learn

Live ICYMI

In the inaugural session of Learn Live ICYMI, we gathered an esteemed panel of crypto experts to share insights on the current crypto market. Learn more here.

2401-T16454_Skinny_Banner_for_Blog_and_Learn_Row_53_728x90.png

Skinny_Banner-1600x400.webp

As we progress into 2024, the cryptocurrency market has witnessed a vibrant resurgence, heralding what many are calling a new 

. Key drivers of this resurgence include the January 2024 

, which has increased institutional participation, and the anticipation of 

, expected to further reduce coin issuance and potentially boost prices. 

With these developments setting the stage, our new series, 

livestreams, providing you with comprehensive expertise and insights from leading figures in the crypto industry in case you missed the livestream.

, we gathered an esteemed panel of crypto experts: 

, Director of BD and Partnerships at Wintermute; and Hao Yang, Global Head of Derivatives and Financial Products at Bybit. Nathan Thompson, Lead Tech Writer at Bybit, skillfully moderated the 

. The discussion focused on the implications of recent regulatory and economic developments, and nuances of the current market.

YouTube video player

Understanding the Post-ETF & Post-Halving Landscape: Challenges and Opportunities

 in early 2024, along with the April 11, 2024 

 have painted a complex canvas for 2024. Lennix Lai highlighted the new post-ETF market dynamics in his introduction, emphasizing the influx of traditional capital and varied market participants. The uncertainty of post-halving effects, as well as their interplay with broader economic factors, also present a complex scenario. Lai noted, "Halving was more impactful in the early stages. Now, we must consider macroeconomics as well."

Hao delved into the specifics of market supply-and-demand influences, stating that the introduction of a Bitcoin Spot ETF has certainly “opened up the floodgates to institutional money,” which traditionally hasn’t been as involved in crypto. This new demand has driven up prices. However, the halving also cuts supply significantly, even though its impact lessens with each cycle (due to the finite nature of Bitcoin). He further explained that we're seeing a convergence of the total circulating supply toward the 

, which will naturally diminish the supply-side impact over time.

Croft commented on the strategic implications of these events, sharing that both the Bitcoin Spot ETFs and halving narratives have been major topics. While their immediate impacts might not stir significant volatility, BTC price action tends to follow a pattern over months following a halving in what is essentially a sophisticated market that likely has these factors priced in already. Croft emphasized the market's evolving sophistication: "Immediate impacts might be muted, but the long-term effects are worth noting. Historically, the period from halving to peak has extended, showing that the real impact unfolds over months."

Thompson synthesized their insights, concluding that while immediate market reaction may be subdued, underlying shifts in market fundamentals will likely drive significant change over the medium-to-long term.

Market Trends and Predictions: Insights Into the Current Bull Run

The panel then moved on to discuss the current bull run, emphasizing the reduced market volatility, which suggests a maturing market. Hao observed the trend toward market maturity: "As we witness diminishing volatility, it's indicative of a maturing market. This maturity suggests that cryptocurrencies are moving toward mainstream acceptance, making the market less volatile but still rich with opportunities for both retail and institutional investors."

Lai discussed the evolving demographics and behaviors of market participants. As the market matures, the correlation with traditional macroeconomic factors becomes more pronounced. This bull run isn’t just about speculative interest, as it’s being driven by more foundational changes in the market structure that include the effects of the halving and the influx of new institutional players.

"In the short term, Bitcoin behaves like a risky asset class, influenced by positive sentiments pre-halving," Lai said.

Thompson added, "It appears that market participants are reacting preemptively to these events, a behavior akin to front-running, which has historically proven to influence Bitcoin's price trajectory well before the halving actually occurs."

Croft added that the narrative around these market events often precedes actual price action: by the time we see movement, the market has already digested the news. What's compelling is how these narratives develop and run their course over time, shaping market behavior in less direct but profound ways.

Maximizing Market Performance for Crypto Users

Leveraging Derivatives and Options Markets for Enhanced Performance

The next segment discussed ways in which 

 might offer a viable dynamic to certain traders, and how that could impact the market.

, averring that options and derivatives are being used more strategically than ever. They're not just being used for hedging, but are integral to the investment strategies of various institutional players. This is a testament to the market's maturation and the sophistication of the products available. Croft noted, “We’re seeing lots of these guys come into our CFD products” [CFD products are similar to 

] … and these investors “look to go long or short in a particular basket or individual tokens and try to pick out the performers and underperformers.” 

When asked about his usage of the phrase “[basket of] tokens,” Croft clarified that he wasn’t talking about indexes, but rather about how “someone could come in and get ten tokens they want to go short on, and ten tokens they want to go long on, and we can execute that. So it’s those clients choosing those baskets themselves rather than the products being preset.” Croft shared that Wintermute recently launched a new index provider, 

, and is looking toward working with other exchanges to help provide comprehensive, reliable and accessible indices.

The Rise of Meme Coins in the Crypto Market

Lai then discussed the evolution of market products, commenting that as the market evolves, so too must our products. Derivatives and options markets are crucial for providing the flexibility and tools users need to navigate this complex environment.

Hao focused on the technical aspects, maintaining that the real challenges and opportunities lie in enhancing the robustness of these tools. As we develop more sophisticated trading derivatives and options, we're not just creating new investment opportunities — we're also setting the stage for a more resilient market.

Thompson concluded this segment: "Clearly, the role of advanced financial instruments like derivatives and options is becoming more central as the market grows in complexity and scale."

When asked to comment on meme coins, Hao said it’s a “social movement starting from Wall Street and GameStop” and that it’s a “way to get people together … It can be a force for good instead of a tool for speculation.” Hao then shared about Bybit’s new initiative, the 

, explaining that it could be used for a charity or fundraising, linking it to a meme coin that’s “naturally inspiring and easy for people to understand.” In this way, meme coins can “be a force for good, to raise a charity fund for cancer treatment” or other causes.

Croft agreed, sharing his perspective that as long as meme coins are “fully transparent” and the projects make it clear that they’re part of a social movement whose participants who believe in and buy in to the cause, he’s “all for crypto facilitating that.”

Lai commented that memes are a sort of collective, and that not all meme coins are going to be successful. While they may be easy to create, it’s difficult to collectively get consensus from any large group of people. 

, expressing support for it and emphasizing that RWAs are “the link between traditional finance and crypto. That’s the last mile before crypto can be a real financial system, a link to the real-world economy.” He concluded that it’s certainly something he would “bet big on,” especially with more RWAs now on-chain.

How Exchanges and Institutions Adapt to Changing Market Dynamics

Innovation in Exchange Offerings: New Products, Services and Trading Pairs

Lai discussed the continuous need for innovation in the crypto exchange space, saying that as market dynamics evolve, so too must our platforms, focusing not just on expanding product offerings but also on enhancing underlying technology. Decreasing system latency and improving resilience and the sophistication of 

 systems is critical to staying ahead in the fast-paced environment.

Hao emphasized the importance of reliability and scalability, asserting that the foundation of any successful exchange lies in the robustness of its trading systems. As Bybit introduces more complex products and services, our priority remains ensuring that our matching engine and order processing systems can handle increased volumes without compromise. This is crucial for maintaining trust and efficiency in our operations.

Croft highlighted the strategic role of liquidity in product innovation, elaborating that Wintermute is closely involved in the initial stages of product launches by providing liquidity. This collaboration is essential for the successful rollout of new offerings. The ability to support exchanges from day one with robust liquidity helps ensure that new products can find a stable market footing.

Thompson summed up the discussion, observing that the adaptation of exchanges to market changes isn’t just about technological advancements, but also about understanding and integrating the needs of diverse market participants. This approach helps in crafting services that truly meet the evolving demands of the crypto market.

Global Market Integration: Collaborations and Partnerships for Sustainable Growth

Hao envisions a future of deeper integration between crypto and traditional financial systems. He referred to his comment during the segment on real-world assets, elaborating that the last frontier for a mature crypto ecosystem is its integration with the real economy. Tokenizing RWAs and streamlining processes such as clearing and settlement through blockchain technologies are steps toward this integration. These innovations will make many traditional roles obsolete, dramatically improving efficiency.

Lai projects the mainstreaming of crypto in traditional finance: we’re at a turning point, in which cryptocurrency is being woven into the fabric of TradFi services. The integration of trading infrastructure, exchange products and custody solutions between crypto and TradFi is accelerating. This convergence suggests that crypto will soon be an indistinguishable part of the broader financial ecosystem.

 as a critical bridge between fiat and crypto economies. Their growth into yield-bearing and basis-trading instruments shows their potential to transform financial services. These instruments thus play a pivotal role in the integration of crypto markets with TradFi, ensuring liquidity and stability.

Thompson highlighted the importance of collaboration, pointing out that the future of crypto isn't just about technological innovation but also about strategic partnerships. Collaborations between liquidity providers, exchanges and possibly even decentralized platforms are key to creating a seamless, integrated market experience.

 session has laid a comprehensive groundwork for understanding the significant changes and opportunities in the cryptocurrency market. As we continue to explore similar themes in upcoming episodes, our focus will remain on providing in-depth insights and actionable strategies. 

As part of the livestream, Bybit is holding 

 that offers you a chance to participate in our pop quiz and earn a share of the 10,000 

 prize pool. The event period is through Apr 26, 2024, 2PM UTC.

Stay tuned for our upcoming livestream held on May 2, 8AM UTC where we will discuss the meme coin craze! 

Learn Live ICYMI: Riding the Bull Run

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards