Bitcoin surged to a historic high of $108,353 on December 17th and is currently priced at $106,149, Bitcoin is up 0.08% in the past 24 hours, while Ethereum trades at $3,893, down 2.33%. The Fear and Greed Index decreased from 87 to 81 (Extreme Greed) today, still reflecting bullish market sentiment. Bitcoin smashed its all-time high of $108,353 on December 17, fueling optimism across markets despite a brief pullback to $106,000. Institutional investors continue to drive Bitcoin adoption through ETFs, record-breaking inflows, and strategic stock acquisitions. Meanwhile, President-elect Donald Trump’s bold plan for a Strategic Bitcoin Reserve signals growing acknowledgment of Bitcoin as a national asset. As Bitcoin dominance rises, related equities like MicroStrategy (MSTR) and Marathon Digital (MARA) soar alongside the cryptocurrency. With predictions of Bitcoin hitting $200,000 by mid-2025, the market stands firmly in a bullish phase.
What’s Trending in the Crypto Community?
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Ripple (XRP): USD stablecoin RLUSD stablecoin launched on December 17.
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Metaplanet (Japan): A Japanese publicly listed company, Metaplanet will issue ¥4.5 billion in bonds to increase its Bitcoin holdings.
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Tether (USDT)’s Investment: Tether invests in European stablecoin provider StablR.
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Strategic Bitcoin Reserve: President-elect Donald Trump’s bold plan for a Strategic Bitcoin Reserve signals growing acknowledgment of Bitcoin as a national asset.
Read more: What Is RLUSD? A Comprehensive Guide to Ripple's Stablecoin and Its Impact on XRP
Crypto Fear & Greed Index | Source: Alternative.me
Trending Tokens of the Day
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Bitcoin Hits $108K Before Settling at $106K
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
Bitcoin surged to a historic high of $108,353 before dipping over $2,000 to stabilize near $106,000. On-chain data identifies $98,133 as a key support zone, where whales have accumulated over 150,000 BTC. Whalemap’s analytics confirm this price level as a critical buffer for Bitcoin’s upward trajectory.
BTC/USD whale clusters. Source: Whalemap/X
The brief pullback eliminated $70 billion in open interest, with CoinGlass reporting $1.3 billion in liquidated positions. Despite short-term volatility, trading firm QCP Capital remains optimistic, emphasizing that the market's strength outweighs any bearish sentiment. Indicators like the Moving Average Convergence Divergence (MACD) reflect strong underlying momentum, suggesting further gains ahead.
Exchange Bitcoin futures OI (screenshot). Source: CoinGlass
Bitcoin bull market drawdowns. Source: Glassnode
Bitcoin ETFs Close to Dominating Gold with $121.8 Billion in AUM
Bitcoin ETFs are closing in on gold ETFs, achieving 88% of their total assets under management (AUM). US Bitcoin spot ETFs now hold over 1.135 million BTC worth $121.83 billion—more than 5% of Bitcoin’s total supply. Inflows hit $2.167 billion in a single week between December 9 and 13, according to Farside Investors.
Gold ETFs in the US market hold $138 billion in AUM, but Bitcoin is gaining ground rapidly. Institutional investors are driving this shift, recognizing Bitcoin as the “digital gold” for the future. Analysts predict this momentum will push Bitcoin to $200,000 by mid-2025 as capital flows into Bitcoin-linked assets continue to rise.
BTC/USDT daily price chart Source: TradingView
Bitcoin-Linked Stocks like Microstrategy See Massive Gains
Equities tied to Bitcoin are reaping rewards from the cryptocurrency’s rally. MicroStrategy (MSTR) saw inflows of $11 million after joining the Nasdaq 100, tripling its daily average. MicroStrategy now holds 439,000 BTC with a 72.4% year-to-date return.
Marathon Digital (MARA) added 11,774 BTC, pushing its stock price up 11% and delivering a 47.6% annual return. Riot Blockchain expanded its holdings to 17,429 BTC, achieving a 37.2% yield for the year. Institutional investors continue to pour money into Bitcoin-linked equities, capitalizing on Bitcoin’s dominant market position.
Trump’s $200 Billion Bitcoin Reserve Plan Sparks Optimism
US President-elect Donald Trump plans to leverage the $200 billion Exchange Stabilization Fund (ESF) to establish a Strategic Bitcoin Reserve (SBR). Dennis Porter, founder of the Satoshi Act Fund, revealed Trump’s intention to stabilize the dollar by purchasing Bitcoin through the Treasury.
Porter stated, “Trump will use this fund to buy Bitcoin.”
If Trump does not act, state-level initiatives will move forward, with Pennsylvania and Texas already drafting legislation to create their own reserves. Senator Cynthia Lummis’s proposed Bitcoin Act aims to acquire 200,000 BTC annually over five years to position the US as a Bitcoin leader. Globally, Brazil, Poland, and Japan are considering similar measures to adopt Bitcoin as a national reserve asset.
Bitcoin Price Dominates as Institutional Demand Grows
Bitcoin’s dominance continues to rise, with daily charts showing strong support between $102,650 and $103,333. Long positions on Binance outpace short ones, reflecting bullish trader sentiment. The MACD indicator signals positive price momentum, while key psychological support at $100,000 will stabilize any corrections.
With ETFs holding over $121.83 billion and institutional investors driving inflows, Bitcoin’s upward trend remains unstoppable. Stocks like MicroStrategy and MARA are capitalizing on this momentum, and Trump’s proposed Bitcoin reserve further cements Bitcoin’s role as a national asset.
Read more: What Is a Bitcoin ETF? Everything You Need to Know
Conclusion: Bitcoin’s Bullish Trajectory Continues
Bitcoin’s all-time high of $108,353 marks the beginning of a new phase of adoption and institutional confidence. ETFs dominate with nearly 88% of gold’s AUM, stocks soar alongside Bitcoin, and Trump’s strategic plan highlights its growing role in global finance. Analysts predict Bitcoin will hit $200,000 by mid-2025, with current price levels offering a launchpad for sustained growth. Bitcoin’s future is clear. It leads the market, attracts record-breaking institutional support, and reshapes global financial systems.
