Bitcoin Surges to $99,388: Cathie Wood Predicts $100K Milestone Ahead for Crypto Market
The cryptocurrency market is experiencing notable shifts, particularly with Bitcoin hitting a new milestone. Currently, Bitcoin (BTC) is priced at $99,388, up from $96,847 yesterday. This surge has been highlighted by industry expert Cathie Wood, who believes the recent rise to $100,000 is just the beginning of Bitcoin's potential. She emphasizes the growing acceptance of crypto and its revolutionary prospects.
Ethereum (ETH) is also showing positive movement, trading at $3,979, compared to $3,791 yesterday. This upward trend is supported by whale accumulation, with analysts suggesting that breaking the $4,000 mark could lead to a surge towards $4,800.
On the Layer 2 (L2) front, the total value locked (TVL) has decreased slightly to $10.66 billion from $10.81 billion yesterday. The top five L2 networks are as follows:
- Base: $3.88 billion, down 0.67%
- Arbitrum: $3.32 billion, down 1.70%
- Optimism: $806.62 million, down 1.63%
- Blast: $638.96 million, down 2.19%
- Mantle: $533.07 million, up 1.52%
In terms of fundraising, the market has seen a total of $19.20 million today, contributing to a cumulative weekly total of $240.23 million. The largest funding rounds include:
- Spexi: $11.50 million
- Haven1: $4.60 million
- Sekai: $3.10 million
In regulatory news, President-elect Donald Trump has appointed venture capitalist David Sacks as the “White House A.I. & Crypto Czar.” Sacks will focus on creating a legal framework for the cryptocurrency industry, emphasizing innovation and compliance. This move signals the administration's intent to establish a clear path for crypto development in the U.S.
As the market evolves, other sectors like AI are also facing challenges. Google CEO has warned that the era of easy advancements in AI is over, which may impact the tech landscape where crypto intersects with artificial intelligence.
Moreover, the U.S. economy added 227,000 jobs in November, exceeding expectations. This economic data will be crucial for the Federal Reserve's upcoming interest-rate decision, potentially influencing market dynamics.
