Bitcoin has crossed the $100,000 threshold for the first time, marking a new phase of price discovery. The majority of the total supply, 74%, is now held by long-term holders, who possess over 14.5 million BTC.

This dominance by long-term holders suggests strong market confidence and reduced selling pressure, which is different from historical trends where speculative demand was driven by short-term holders. The recent surge in price can be attributed to significant developments, such as the appointment of former SEC commissioner Paul Atkins as chair and comments from Federal Reserve Chair Jerome Powell comparing Bitcoin to gold. These events have reinforced Bitcoin's status as a hard asset and sparked renewed interest in the market.

Furthermore, Bitcoin's market dominance has increased to 57%, with a market capitalization exceeding $2 trillion. As a result, it now ranks as the seventh most valuable asset globally, surpassing both Saudi Aramco and silver in total valuation.