Bitcoin (BTC) smashed the $102,000 price target for the second time in its existence this Thursday.
In the previous day’s trading session, the BTC/USD pair rallied 4.7% before adding another 1.2% today.
Bitcoin has remained in high spirits since reaching an all-time high of more than $104,000 in the middle of last week.
Although the world’s largest cryptocurrency has come off slightly, the bulls still appear to be in control as they gather troops to keep it above $100,000.
Bitcoin’s record run follows president-elect Donald Trump’s victory in the US presidential election on a pro-crypto platform, after which he wasted no time in appointing prominent crypto advocates to key positions ahead of assuming office next month.
One notable appointment is David Sacks, former Chief Operating Officer of PayPal (NASDAQ:PYPL), who has been named the inaugural ‘White House A.I. & Crypto Czar’.
Trump stated that Sacks "will focus on developing a legal framework to provide the clarity the crypto industry has been demanding, allowing it to thrive in the US".
Meanwhile, spot Bitcoin exchange-traded funds (ETFs) have continued to attract significant inflows. Over the past week and a bit, more than $3.7 billion has flowed into the ETF market, generating strong buying momentum.
At the time of writing, the BTC/USD pair was swapping for $102,372.
Bitcoin is up 142% year to date – Source: tradingview.com