Bitcoin Blasts Past $96K as Trump Trade Ignites Crypto Frenzy

Bitcoin's price surged past $96,000 for the first time this Thursday, positioning it precariously close to the psychological $100,000 threshold.

This milestone marks a significant growth of 30% over the past two weeks, driven by supportive U.S. governmental policies towards crypto and a new series of rate reductions by the Federal Reserve.

The introduction of BlackRock's IBIT options has bolstered this upward trajectory, allowing investors to physically track Bitcoin and fostering pro-crypto sentiment within the current administration.

IBIT options saw an impressive $2 billion in transactions on their inaugural day, with QCP Capital reporting a peak of 73,000 contracts within the first trading hour, boasting a call-to-put ratio of 4.4:1.