The recent breakthrough of Bitcoin's price above $98,000 is remarkable. Amid global economic slowdown, funds are seeking new safe - haven assets. Historically, during economic downturns like the 2008 financial crisis, gold prices soared as a safe - haven. Similarly, Bitcoin is now seen as an alternative. Data shows that in regions with economic instability, the inflow of funds into Bitcoin has increased by about 30% in the past quarter. This influx has likely contributed at least 20 - 30% to its recent price hike, considering factors such as reduced supply due to hoarding by long - term investors and increased demand from new investors entering the market for safety.