Bitcoin continues to trade above the psychological $100,000 barrier, marking a sustained period of strength for the worlds leading cryptocurrency.The digital asset closed at $100,045.24 on December 12, following several days of trading above this historic level.
The cryptocurrency first breached $100,000 on December 5, reaching a record high of $103,577.Trading volumes remain robust at $106.71 billion, more than double the average daily volume of $49.03 billion.
This surge in activity demonstrates strong market participation at these elevated levels.BlackRocks IBIT ETF has played a significant role in maintaining these price levels, making a substantial purchase of $398.6 million in Bitcoin on December 9.The ETF reached $50 billion in assets under management in just 230 days, setting a new speed record for ETF growth.
The price stability above $100,000 reflects growing institutional confidence in Bitcoin.Bitcoin Sustains Historic Six-Figure Milestone.
(Photo Internet reproduction)Its market capitalization now stands at $1.98 trillion.
The cryptocurrencys 50-day moving average of $85,310.86 provides strong technical support, while the broader crypto market continues to show strength.Recent price action shows Bitcoin trading in a range between $99,280 and $102,595, suggesting market participants are comfortable with these elevated levels.
The sustained trading above $100,000 represents a remarkable recovery from Bitcoins low of $38,521 earlier this year.