Why did bitcoin hit an all-time high?

One of the main catalysts was the approval of Bitcoin's first spot price ETFs in January. This marked a significant milestone for the digital asset, opening up new avenues for investors to gain exposure to Bitcoin through traditional financial markets.

Another important factor was Bitcoin's latest halving event, which occurred in April. This event halves the rewards for mining Bitcoin every four years, reducing the supply of new coins entering the market. This scarcity helped to drive up the price as demand remained high.

Interest rate cuts also played a role in Bitcoin's price surge. As central banks around the world lowered interest rates in response to the pandemic, investors sought alternative assets to preserve the value of their savings. Bitcoin, with its limited supply and increasing adoption, became an attractive option for many.

Additionally, President-elect Trump's crypto-friendly policies contributed to the surge in Bitcoin's price. His administration's stance on cryptocurrencies was seen as supportive, which helped to boost investor confidence in the asset class.

Bitcoin's price reached a new all-time high of $103,332 on December 4th. This surge was fueled by several key factors, each playing a significant role in pushing the cryptocurrency to such heights.