Bitcoin has reached a market cap of $2 trillion after surpassing the $100,000 price mark for the first time, currently valued at $102,800. This surge positions Bitcoin as the seventh most valuable asset globally, exceeding companies such as Meta and Saudi Aramco. This price increase was influenced by significant buying activity the same day Jerome Powell, Chair of the U.S. Federal Reserve, acknowledged Bitcoin's role as a competitor to gold. As a result, shorts faced liquidations totaling $134 million within a day. Analysts view this breakout as a continuation of a strong upward trend, with predictions suggesting Bitcoin could rise further to between $129,000 and $146,000 in the coming month. According to on-chain analytics, reaching $150,000 would signify a bubble threshold, indicating a potential 43% price surge is still necessary for Bitcoin to be considered in bubble territory. Investors are urged to proceed with caution, acknowledging the inherent risks in the cryptocurrency market.

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