Bitcoin hit $98,000 after the launch of ETF options

Bitcoin’s rally shows no signs of slowing down, with the leading cryptocurrency surging past the $98,000 mark to hit a new all-time high. According to data from the crypto tracking platform CoinGeckoBitcoin reached $98,310 on Thursday, setting a historic milestone.

This remarkable increase follows the debut of Bitcoin ETFs (Exchange Traded Funds) Options earlier this week – a landmark event in the cryptocurrency industry. The launch of these options represents a defining moment as it bridges the gap between the decentralized world of digital assets and traditional finance. By offering institutional investors – or the so-called “big fish” – a more familiar and regulated way to access Bitcoin, these ETFs are expected to drive further adoption and liquidity in the market.

Bitcoin’s continued strength highlights its growing appeal among a wider range of investors, cementing its position as a key player in the evolving global financial landscape. The Bitcoin rally that took off after Donald Trump’s presidential election victory isn’t going to slow down. Market analysts and enthusiasts alike are suggesting that the cryptocurrency’s ascent to the much-anticipated $100,000 milestone now appears not just achievable, but potentially imminent.

Other major cryptocurrencies are also on the rise

Bitcoin’s rally is lifting the broader cryptocurrency market, with several leading digital assets also seeing significant upward momentum. Ether (ETH), the second largest cryptocurrency by market capitalization, is trading at $3,300, marking an impressive 7% increase in the past 24 hours.

Other major players are also riding the wave. Solana (SOL), Dogecoin (DOGE), Cardano (ADA) and Shiba Inu (SHIB) have all recorded gains within the range of 2%-3% over the same period.

This widespread market surge highlights the interconnected nature of the crypto space, with Bitcoin often setting the pace for other digital assets. As enthusiasm grows across the board, these altcoins are attracting increased attention from investors eager to take advantage of the bullish sentiment sweeping the market.