Bitcoin News: Surge to $104k Marks a Significant Milestone

Bitcoin has recently surged above $104,000, marking a significant milestone for the cryptocurrency. This rise comes after a sluggish start to 2025, with Bitcoin and other cryptocurrencies experiencing a challenging period. However, as of mid-January, Bitcoin has made a remarkable recovery, leading the market with its impressive price increase. The surge is particularly notable as it coincides with the last trading day before the inauguration of the US President-elect.

Bitcoin Climbs to $104k: Why is BTC Up Today?

Bitcoin has surged above $104,000, marking a significant milestone for the cryptocurrency. This rise comes after a sluggish start to 2025, with Bitcoin and other cryptocurrencies experiencing a challenging period. However, as of mid-January, Bitcoin has made a remarkable recovery, leading the market with its impressive price increase. The surge is particularly notable as it coincides with the last trading day before the inauguration of US President-elect Donald Trump. The reasons behind this sudden increase are being explored, with market analysts pointing to a combination of factors including investor sentiment, macroeconomic indicators, and potential policy changes under the new administration.

Bitcoin Surges Past $100K, Reigniting Long-Term Holder Interest

Bitcoin (BTC) has recently surged past the $100,000 mark, reigniting interest among long-term holders. This milestone has led to increased inflows into exchanges, similar to the activity observed on January 6th when Bitcoin briefly reached a record high of $102K. The spike in large transactions suggests potential price momentum driven by FOMO (Fear of Missing Out). The renewed activity in BTC exchange inflows indicates a possible rally on the horizon.

California State Representative to Draft Pro-Bitcoin Legislation

California state representative Phillip Chen is reportedly set to draft pro-Bitcoin legislation, marking a significant development for the digital asset sector in the United States. Chen, a member of the California Assembly, is collaborating with the nonprofit organization Proof of Workforce on a variety of Bitcoin initiatives for the state. This collaboration includes drafting a policy for the upcoming legislative session. If successful, California would join other states in integrating cryptocurrencies in a meaningful way.

Bitcoin Breaks Out Of Cup-And-Handle Pattern, Eyes $276,000 Target

Bitcoin (BTC) has rejoined the crypto rally, gaining momentum amid reports that President-elect Donald Trump may issue an executive order prioritizing cryptocurrencies. Bitcoin surged nearly 5% in the 24-hour time frame, reaching $104,000. The broader cryptocurrency market also saw an uptick, with the CoinDesk 20 index rising 1% following a 4% increase on Thursday. This newfound interest in Bitcoin has positively impacted exchange operators, with shares of platforms like Coinbase and Robinhood climbing approximately 5% and 3%, respectively.

Wyoming Introduces Legislation to Allow Funds to Diversify into Bitcoin

The state of Wyoming is introducing new legislation to allow permanent funds to diversify into Bitcoin, paving the way toward a Bitcoin Reserve. According to WY senator Cynthia Lummis, the proposal will 'benefit our state as we lead the nation in financial innovation!' Recently, Senator Lummis and Donald Trump’s incoming Treasury Secretary Scott Bessent met to discuss the United States’ potential strategic Bitcoin reserve. Senator Lummis has been a strong advocate for establishing a Bitcoin reserve in the United States. She and other US senators introduced the bill to the senate last year, saying that Bitcoin as a reserve asset could rescue the financial system.