(Bloomberg) – Bitcoin has once again approached $100,000 after reaching its highest level since late February, with investors’ desire for risk rekindling across financial markets.
Most of them read from Bloomberg
The original cryptocurrency has faced downward pressure in recent weeks as Donald Trump’s tariff policies have spurred sudden defeats in both the stock and digital asset markets. It fell by up to 30% after Trump hit a record high of around $109,000 on January 20th, his second inauguration as US president.
The largest token by market value rose from 3.1% to $97,483, the highest since February 21st. Bitcoin was traded on February 7th for $100,000.
Rest comes amid an increase in spot markets where demand for derivatives normally used to add leverage has settled.
Last week, Bitcoin and Ether tracked more than $3.2 billion in exchange funds, and the iShares Bitcoin Trust ETF (Ticker IBIT) alone saw nearly $1.5 billion influx, compiled this year by the Bloomberg Show.
According to data compiled by Coinglass and the biggest crypto options Exchange Deribit, demand for upside-down exposure in the options market has seen the most open interest in all tenors, and rising demand in the options market has increased with $100,000 call options, but the liquidation of both bullish and bearish bets on crypto assets remains curtailed.
Chris Newhouse, research director at Ergonia, Defi Trading Firm, said: “BTC continues to change the correlation between gold and stocks, highlighting a more subtle and dynamic relationship between short-term momentum and spot demand and balanced macro factors.”
Crypto Market fell sharply earlier last month, with Trump unveiling tariffs on some of America’s biggest trading partners. Investors have revolved capital from digital assets in a risk-off environment, causing considerable liquidation in crypto futures contracts.