It’s very interesting to watch analysts explain why Bitcoin broke the $100k mark today. Here are their explanations:

1) The appointment of a new SEC chairman who is pro-crypto. “Not at all, because Gensler didn’t rant against Bitcoin. He was the one who approved the applications for the spot BTC ETF.”

3) Michael Saylor’s speech to Microsoft to persuade them to start buying Bitcoin on the company’s balance sheets. “There’s no need to explain this.”

Everyone is looking for some reason why Bitcoin has already reached $100k, but there’s really only one reason.

The expansion of institutional players, which began very actively at the very beginning of 2023, when BlackRock and Fidelity began to increase positions in MSTR shares by hundreds of thousands of%. And then the movie with the spot ETF.

2) Yesterday’s speech by Jerome Powell, chairman of the US Federal Reserve. “They’re also looking in the wrong direction, because his speeches haven’t had an impact on asset prices for a long time, the Fed is now in a neutral position.”