Bitcoin surpassed the $100,000 mark for the first time, marking a critical moment in the development of digital currencies.
The price surge highlights Bitcoin’s growing role in global finance and its increasing adoption by institutional and individual investors.
At the same time, the NFT market has also seen significant activity, with key collectibles such as Bored Ape Yacht Club (BAYC) and Pudgy Penguins hitting new highs.
Source: CoinGeckoBitcoin crosses $100,000
On December 5, 2024, Bitcoin hit a new high, surpassing $100,000 for the first time in history. Bitcoin reached a high of $103,679, reflecting growing interest and confidence in the cryptocurrency market, according to CoinGecko.
Several factors have contributed to the recent surge:
- Policy updates: The election of pro-cryptocurrency leadership in the United States, including President-elect Donald Trump, has fueled optimism about a friendlier regulatory environment for digital assets. Trump’s nomination of prominent cryptocurrency advocate Paul Atkins to lead the U.S. Securities and Exchange Commission (SEC) was particularly well received.
- Increase adoption: Institutional investors are increasingly including Bitcoin in their portfolios, reinforcing its reputation as a long-term asset.
- Macroeconomic environment: Concerns about inflation and economic instability have fueled interest in Bitcoin as a potential store of value.
This milestone marks an important moment in Bitcoin’s adoption and integration into broader financial markets.
Source: BAYC and Pudgy PenguinsThe NFT market is booming: BAYC and Pudgy Penguins are leading the way
As Bitcoin surpasses the $100,000 mark, key collections in the NFT market have also surged in value, reflecting a broader trend of rising interest in digital assets.
The floor price of Pudgy Penguins rose from 8.7 ETH to 13 ETH in November and then continued to rise, reaching 15.93 ETH. That marks another major jump in value and reflects increased demand after sales surged 262% last month. Likewise, Bored Ape Yacht Club (BAYC), which maintains a prominent position in the NFT market, has a base price of 21.69 ETH, cementing its reputation as a blue-chip digital collectible.
This continued growth follows a resurgence in the NFT space in November, with collectibles like CryptoPunks seeing a sharp rise in activity and value. For example, CryptoPunks saw sales grow by 392% in November, with the bottom price climbing to 39.7 ETH by the end of the month.
These trends suggest that the upward trend in NFTs has continued into December, with Bitcoin’s rise acting as a catalyst for further investment in digital collectibles.
