Bitcoin Surpasses $100,000 for the First Time Before Pulling Back

The milestone comes as institutional interest grows and President-elect Trump signals pro-crypto policies.

Bitcoin briefly exceeded $103,000 on Wednesday night, marking the first time the cryptocurrency crossed the $100,000 threshold, before retreating to just under $99,000 by Thursday afternoon.
The surge follows the announcement of President-elect Donald Trump's intent to nominate crypto advocate Paul Atkins as SEC chair, signaling potential regulatory shifts favorable to the industry.
Institutional demand, fueled by the approval of spot Bitcoin ETFs earlier this year, has been a key driver of Bitcoin's rise, with major firms like BlackRock and Fidelity entering the market.
The total cryptocurrency market value has climbed to $3.7 trillion, with other major tokens such as XRP and TRON seeing significant gains in recent weeks.
Despite the milestone, experts caution that Bitcoin remains a volatile asset, with some emphasizing that its value is still driven largely by speculation.