Bitcoin Approaches $100,000 Amid Trump Optimism

Bitcoin has surged to a new all-time high of approximately $97,765, driven by bullish sentiments following Donald Trump's election victory and his pro-crypto stance. The cryptocurrency has gained about 40% since the election, with predictions indicating an 83% chance of reaching $100,000 by December. Significant inflows into Bitcoin ETFs, particularly BlackRock's iShares Bitcoin Trust, have also contributed to the rally, with over $4 billion invested post-election. Meanwhile, the overall cryptocurrency market cap has soared to $3.33 trillion. Despite Bitcoin's rise, many altcoins have lagged behind, with Ethereum showing minimal gains and other major cryptocurrencies declining in value. Analysts are noting a potential supply shock as demand for Bitcoin continues to outpace supply, further fueling speculation about its future price movements.