06.01.202601:38:16UTC+00Bitcoin Hits 7-Week High

In early January, Bitcoin surged towards $95,000, achieving its highest point since the middle of November. This rise was attributed to an improved sentiment within the cryptocurrency market, following a period in which it had underperformed compared to other assets in the final quarter of the previous year. Industry analysis showed that options traders are setting sights on the significant psychological milestone of $100,000 in the short term, although there are some predictions of a potential decline to $80,000. The cryptocurrency's upward movement aligned with a broader shift towards riskier assets at the year's outset, as global equities and commodities also reached new peaks. This rally was further buoyed by weaker-than-anticipated US manufacturing figures and dovish comments from a prominent Federal Reserve figure, bolstering expectations for further interest rate cuts this year. Concurrently, investors are assessing the geopolitical ramifications stemming from the US attack on Venezuela, with speculation circulating that the Maduro regime might possess a significant undisclosed Bitcoin holding despite existing US sanctions.