Bitcoin Surges to $93K on Pro-Crypto Expectations

Bitcoin has reached unprecedented heights, briefly surpassing $93,000, driven by expectations of Federal Reserve interest rate cuts and President-elect Donald Trump's pro-crypto stance. Industry experts foresee the cryptocurrency potentially hitting $100,000 by year's end, citing technical analysis and high demand. Despite a recent market correction, Bitcoin's dominance has increased to 60%, reflecting investor confidence. The global cryptocurrency market cap stands at $2.98 trillion, with strong buying pressure from U.S. investors. BlackRock's iShares Bitcoin Trust (IBIT) has rapidly become a leading ETF, highlighting the growing mainstream interest in Bitcoin. However, some analysts, including those from UBS, remain cautious, viewing cryptocurrencies as speculative assets.