Bitcoin’s rally continued unabated on January 10, 2025, as the leading cryptocurrency broke above the $38,000 mark, its highest level since early 2024. The digital asset recorded a 12% gain within 24 hours, driven by growing institutional interest and a weaker US dollar. Notably, hedge funds and asset managers have increased their exposure to Bitcoin, citing its appeal as a hedge against economic uncertainty. Ethereum mirrored Bitcoin’s performance, climbing to $2,450, while other cryptocurrencies like Solana and Binance Coin also posted notable gains. Analysts believe Bitcoin’s next psychological target of $40,000 could be tested soon, although they warn of potential profit-taking that may trigger short-term volatility.
Bitcoin Soars Above $38,000 Amid Renewed Bullish Sentiment
