Introduction
As Bitcoin (BTC) recently broke through the historical high, surpassing the $108,000 mark, the market sentiment and trend have attracted widespread attention. The driving force behind this round of increase comes not only from the increasing institutional demand for cryptocurrencies but also from the expectation of a possible interest rate cut by the Federal Reserve (Fed) in the United States, as well as policy changes from the incoming cryptocurrency-friendly government. These factors have collectively propelled the rise of Bitcoin and laid the foundation for the market trend in the coming months.
Bitcoin BTC Latest Price Trends Today
BTC (Bitcoin) Bitcoin NO.1
Robinhood Online $104,250.74 -$2,530.72 -2.37%
Real-time Data · 15:51:52
108,353.00 24H Highest
103,137.82 24H Lowest
108,268.45 Historical High
0.04865 Historical Low
750,000 24h Trading Volume
$783.6 Billion 24h Trading Volume
21 Million Total Supply
$206.16 Billion Market Value
+5.06% 24h Volatility
19,797,703 Circulating Quantity
106,332.00 Yesterday Open
106,478.47 Yesterday Close
94.27% Circulation Rate
K-line Trend
All 24H 7 Days 30 Days Last Three Months Last Year
let tabIdx = 0;
let timeIdx = 0;
let type = ‘all’;
$(‘.echarts_head .head_left_item’).click(function () {
$(‘.echarts_head .head_left_item’).removeClass(‘active’);
tabIdx = $(this).index();
$(this).addClass(‘active’);
if (tabIdx == 1) {
$(‘#tvChart’).hide();
$(‘#trendChart’).show();
return;
}
$(‘#trendChart’).hide();
$(‘#tvChart’).show();
})
$(‘.echarts_head .head_right_item’).click(function () {
$(‘.echarts_head .head_right_item’).removeClass(‘active’);
timeIdx = $(this).index();
$(this).addClass(‘active’);
})
var klineData;
getTjList();
function getTjList(start, interval, type) {
let url = ‘/e/extend/api/index.php?m=v2&c=kline&coin=binance_BTC_USDT&id=1’;
$.ajax({
url: url + ‘&start=’ + start + ‘&interval=’ + interval + ‘&type=’ + type,
data: ”,
type: ‘post’,
cache: false,
dataType: ‘json’,
success: function (resdata) {
klineData = resdata
setTimeout(function () {
initKline(type)
}, 500);
},
error: function (e) {
console.log(‘resdata e’, e);
// alert (“异常！”);
}
});
}
function initKline(type) {
let typeStr = type ? type : ‘all’
const periodTypeList = {
‘all’: 3,
‘d’: 14,
‘w’: 2,
‘m’: 2,
‘3m’: 3,
‘ydt’: 3,
}
const coinName = ‘BTC’;
const periodType = periodTypeList[typeStr];
// 数据要升序才能正常显示
const historyData = klineData
.sort((cur, next) => cur.T – next.T)
.map((item) => {
return {
time: item.T,
low: item.l,
high: item.h,
open: item.o,
close: item.c,
volume: item.v,
};
});
const exchange = “528BTC”;
const tradePair = `${coinName}/USDT`
const config = {
periodType,
datafeedConfig: {
periodType,
historyData,
symbolInfo: {
ticker: `${exchange}:${tradePair}`,
name: tradePair,
description: tradePair,
type: “528btc”,
exchange,
},
},
tradingViewConfig: {
symbol: `${exchange}:${tradePair}`,
interval: periodType,
container: `tvChart`,
},
}
let length = historyData.length <= 90 ? (historyData.length) - 1 : 90;
console.log(length)
const visibleRangeOption = {
// 这里的时间单位是 秒
from: historyData[length].time / 1000,
to: historyData[0].time / 1000,
};
const widget = generateTradingViewAndMount(config);
widget.onChartReady(() => {
const chart = widget.chart();
chart.setVisibleRange(visibleRangeOption);
});
//chart.setPriceVolumePrecision(8,8)
}
function changeKline(type) {
type = type;
const currentTimeStamp = Date.now();
// 一天前的时间戳
const oneDayAgoTimeStamp = currentTimeStamp – (24 * 60 * 60 * 1000);
// 七天前的时间戳
const sevenDaysAgoTimeStamp = currentTimeStamp – (7 * 24 * 60 * 60 * 1000);
// 一个月前的时间戳
const oneMonthAgoTimeStamp = new Date().setMonth(new Date().getMonth() – 1);
// 三个月前的时间戳
const threeMonthsAgoTimeStamp = new Date().setMonth(new Date().getMonth() – 3);
// 一年前的时间戳
const oneYearAgoTimeStamp = new Date().setFullYear(new Date().getFullYear() – 1);
const time = {
‘all’: ”,
‘d’: oneDayAgoTimeStamp,
‘w’: sevenDaysAgoTimeStamp,
‘m’: oneMonthAgoTimeStamp,
‘3m’: threeMonthsAgoTimeStamp,
‘ydt’: oneYearAgoTimeStamp,
}
// 5m,15m,30m,1h,6h
const interval = {
‘all’: ”,
‘d’: ‘5m’,
‘w’: ‘1h’,
‘m’: ‘1h’,
‘3m’: ‘1d’,
‘ydt’: ‘1d’,
}
if (tabIdx == 1) {
getTrendLine(type)
return;
}
getTjList(time[type], interval[type], type)
}
let bid = ‘BTC’
Highcharts.setOptions({
lang: {
rangeSelectorZoom: ”,
thousandsSep: ”
},
global: {
useUTC: false
}
});
getTrendLine(type)
function getTrendLine(type) {
$.getJSON(‘https://btccast.com/e/extend/api/index.php?m=news&c=kdata&type=’ + type + ‘&id=1&cid=1’, function (data) {
var T = [];
var u = [];
var b = [];
var a = [];
var v = [];
data.data.forEach(item => {
let [time, ui, bi, ai, vi] = item;
u.push([time, ui]);
b.push([time, bi]);
a.push([time, ai]);
v.push([time, vi]);
})
// 创建图表
chart1 = Highcharts.stockChart(‘trendChart’, {
chart: {
zoomType: ‘x’,
height: 520,
width: 780
},
colors: [‘#5984FB’, ‘#AE5CCC’, ‘#F7D049’, ‘#777’,
‘#24CBE5’, ‘#64E572’, ‘#FF9655’, ‘#FFF263’, ‘#6AF9C4’],
rangeSelector: {
selected: 5,
enabled: false, // 取消筛选
inputDateFormat: ‘%Y-%m-%d’
},
scrollbar: {//取消下部滚动条
enabled: false
},
tooltip: {
split: false,
shared: true,
dateTimeLabelFormats: {
millisecond: ‘%Y-%m-%d %H:%M’,
second: ‘%Y-%m-%d %H:%M’,
minute: ‘%Y-%m-%d %H:%M’,
hour: ‘%Y-%m-%d %H:%M’,
day: ‘%Y-%m-%d %H:%M’,
week: ‘%Y-%m-%d %H:%M’,
month: ‘%Y-%m-%d %H:%M’,
year: ‘%Y-%m-%d %H:%M’
}
},
yAxis: [{
title: {
text: ‘流通市值’,
style: {
color: “#7cb5ec”
}
},
visible: false,
height: ‘80%’,
labels: {
formatter: function () {
return (this.value / 1000000000).toString() + ‘十亿’;
},
style: {
color: “#7cb5ec”
}
},
opposite: false,
}, {
title: {
text: ‘价格(美元)’,
style: {
color: “#009933”
}
},
visible: false,
labels: {
style: {
color: “#009933”
}
},
height: ‘80%’,
}, {
title: {
text: ‘价格(BTC)’,
style: {
color: “#f7931a”
}
},
visible: false,
labels: {
formatter: function () {
return this.value + bid;
},
style: {
color: “#f7931a”
}
},
height: ‘80%’,
}, {
title: {
text: ‘成交额’,
style: {
coDriving Force Behind Bitcoin’s Surge
Recently, Bitcoin’s price surpassed the major milestone of $108,000. Although there was a pullback after hitting a new all-time high, traders are eagerly anticipating the expected Federal Reserve interest rate decision. The market widely expects the Fed to cut rates by 1 basis point in December, which will impact market liquidity and the direction of Bitcoin. According to the CME Fed Watch tool, the probability of a rate cut in December is as high as 95.4%. This expectation has driven the price of Bitcoin higher, especially against the backdrop of the Trump administration’s positive support for the crypto industry, further boosting market optimism with the “Trump rally” for Bitcoin.
However, traders currently predict that the Fed will pause rate cuts in January next year, with an almost 80% probability of keeping rates in the 4.25-4.50% range, and only a 16.3% chance of another rate cut, which may not be good news for market liquidity.
Since the beginning of 2024, Bitcoin’s price has risen by over 59% due to changing market sentiment and improving regulatory environment. The participation of institutional investors, especially with the launch of Bitcoin ETFs, has injected fresh capital into the market and further pushed up the price of Bitcoin. Meanwhile, the clarity of the U.S. government’s cryptocurrency policy and some state governments proposing to allow public funds to invest in Bitcoin have further fueled this trend.
Future Outlook: Rate cuts and policy support
Analysts at K33 Research believe that the December Federal Open Market Committee (FOMC) meeting will intensify market volatility and set the tone for Bitcoin’s momentum during the Christmas holidays. If the Fed continues to cut rates as expected, it may provide more liquidity to the Bitcoin market. Although a short-term pullback is expected after the rate cut, the upward momentum of Bitcoin remains strong.
Furthermore, the Trump administration’s crypto-friendly policies have brought more support to the market. According to Trump’s statements, he plans to strengthen regulation of cryptocurrencies to ensure that the U.S. becomes a global leader in the crypto industry. Additionally, the Bitcoin Strategic Reserve Act proposed by Senator Cynthia Lummis of Wyoming, if passed, may inject greater confidence and momentum into the Bitcoin market.
New Cycle in the Cryptocurrency Market: Driven by ETFs and Institutional Demand
Bitfinex’s latest report points out that the current upward cycle of Bitcoin is different from before, with the uniqueness of this cycle being driven by institutional investors and Bitcoin ETFs. In 2024, the launch of Bitcoin and Ethereum spot ETFs and the growing institutional demand attracted more traditional investors into the cryptocurrency market, further boosting confidence in Bitcoin.
According to Bitfinex analysts’ forecasts, despite Bitcoin reaching new all-time highs, BTC may continue to rise in the coming months. It is expected that by 2025, the price of Bitcoin could reach $120,000-200,000 or even higher, especially as the Bitcoin halving event approaches, the market may see another significant uptrend.
Market Correction or Sustained Uptrend?
Although there are some cautious voices in the market, suggesting that the current price of Bitcoin may already reflect rate cut expectations and could experience a short-term pullback, in the long run, institutional demand and crypto-friendly policy support are likely to keep Bitcoin on an upward trend in the near future.
Additionally, analysts believe that 2025 could be a crucial year for Bitcoin and cryptocurrencies, especially under the Trump administration and new regulatory framework, which will further strengthen market support for digital assets. The active promotion by state governments, such as Ohio and Pennsylvania proposing to include Bitcoin in state reserves, also indicates the growing status of Bitcoin as an asset class.
Conclusion
In conclusion, Bitcoin’s surge is not accidental. With the possible rate cuts by the Fed, crypto-friendly government policies, and active participation of institutional investors, Bitcoin is expected to continue its upward trend in the coming months. While the market may experience minor corrections, the overall optimism and capital inflows will continue to drive Bitcoin’s price to higher levels. In this context, investors should not only focus on short-term market fluctuations but also pay attention to the medium to long-term market trends, understanding Bitcoin’s unique position in the global financial system and the potential huge opportunities it may bring.
