Bitcoin's price experienced a notable increase, reaching around $91,000, following a healthy correction. This hike came after the cryptocurrency neared the six-figure threshold, specifically hitting approximately $99,800 before a slight dip. Alex Thorn, head of research at Galaxy Digital, pointed out that while Bitcoin declined by 8% over the past week, this fluctuation is minor compared to past volatility during a prolonged downward trend from March to November 2024. Recent selling pressure primarily originated from buyers of Bitcoin during 2024, rather than early investors offloading assets. Thorn emphasized that such corrections are beneficial and highlighted potential growth catalysts for Bitcoin, including regulatory changes possibly favoring the CFTC over the SEC in overseeing cryptocurrencies. As of a recent update, Bitcoin's price stood at about $96,270, marking an increase of 4.7% within 24 hours, with optimistic projections for the market into 2025 due to various supportive factors.

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