On Thursday, Bitcoin swung higher, climbing about 6.4% to around $52,052 thousand during intraday trading, a move captured by data from the Coindesk platform. This marks a fresh peak not seen since December 2021, underscoring a renewed willingness among traders to push price momentum higher in the current market cycle. By 18:13 Moscow time, the pace of gains cooled slightly, with the increase thinning to roughly 6.11% and the price hovering near the $51,558 thousand level as traders digested the latest catalyst cues. The broader takeaway is a shift in sentiment, with participants recalibrating risk appetite in response to evolving macro signals and evolving regulatory expectations.
Banking on potential catalysts, investors on crypto venues largely closed their short exposure as price momentum intensified. According to Coinglass data, more than $33 million in short positions were liquidated within a single hour, a testament to the rapid unwinding of bearish bets as traders rotated into longer positions. This dynamic often signals a change in the dominant market flow and can attract additional capitalization from speculative and institutional players seeking to capitalize on the new trend.
Ethereum, the second-largest by market capitalization, also advanced in tandem with Bitcoin. The ether price breached the $2,700 mark and established a fresh 2024 high, reflecting rising confidence across the broader smart contract ecosystem and renewed institutional interest in decentralized finance and programmable assets. This dual strength in the top two assets highlights a broadening risk-on mood among market participants and a growing expectation that the crypto sector may sustain momentum beyond short-term price spikes.
In commentary from financial researchers, Standard Chartered Bank analysts recently suggested that Bitcoin could test the $200,000 level by the end of 2025 if current demand drivers persist and regulatory frameworks continue to clarify the path for spot Bitcoin ETFs in the United States. The anticipated approval of these products is viewed as a potential accelerant, capable of unlocking a larger pool of traditional investors who previously remained on the sidelines due to regulatory uncertainty. Such a development would likely broaden market participation and support sustained price discovery across cycles.
Experts note that the continued onboarding of institutional investors into the cryptocurrency market could act as a turning point for the asset class, mirroring the transformative impact seen in the gold market after the launch of exchange-traded funds. As institutions tilt toward diversified exposure, the market could experience more stable capitalization, deeper liquidity, and a gradual shift in sentiment from speculative trading toward longer-term hold strategies. This dynamic would also influence pricing, volatility patterns, and wider adoption across adjacent sectors such as payments infrastructure, asset custody, and risk management services.
Recent sentiment gauges indicated that the “Fear and Greed” index might tilt higher within the crypto space, with readings approaching the upper echelons of the scale. A rise toward the 76-point mark, which sits in the extreme greed zone, would align with a broader risk-on environment and heightened appetite for speculative assets. Such a shift often coincides with heightened media attention, renewed retail participation, and a re-evaluation of hedging strategies among market participants.
Market observers have previously signaled that a sustained price uptrend could challenge historical records, driven by a combination of technical breakout dynamics, macro liquidity, and the ongoing shift in investor base. While no forecast is guaranteed, the prevailing mood is one of cautious optimism as traders weigh the probability of fresh all-time highs against potential pullbacks, regulatory developments, and the evolving flow of liquidity across major exchanges. For readers following this space, the narrative remains one of momentum building on expanding participation and the resilience shown by leading crypto assets in the face of shifting risk appetites.