Bitcoin (BTC) continues its price rally, and has now hit the $75,000 price level. CoinGecko data shows that BTC’s price has risen by 7.8% in the last 24 hours and 12.5% in the last month. Prior to the recent price rally, Bitcoin (BTC) last traded at the $75k price level in late May 2026. The latest upswing has significantly increased investor sentiment. Let’s discuss what’s fueling BTC’s rally and if the upswing will continue or if it will face a correction.
What’s Fueling Bitcoin’s Price Rally To $75k?
Bitcoin’s (BTC) upward momentum started after President Trump hosted CEOs and founders of various cryptocurrency companies at the White House. Trump went on to state that the US may buy a significant amount of Bitcoin (BTC) and other cryptocurrencies. The White House event and Trump’s comment about the US potentially buying a big chunk of cryptocurrencies has likely elevated investor confidence.
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Bitcoin’s (BTC) rally also comes after inflation in the US dipped to 3.4%. While the figure is still higher than the Federal Reserve’s 2% target, the falling numbers may have reignited hopes for an interest rate cut later this year.
Can The Rally Continue?
According to many experts, Bitcoin (BTC) continues to follow its four-year trajectory. If the pattern persists, BTC will hit a new all-time high in 2029. The bull run for a 2029 peak could start sometime later this year of in early 2027. Therefore, the current upswing is well aligned with BTC’s historical pattern.
There are, however, some risks. The US-Iran conflict could cause a global energy crisis, which could push inflation figures higher. Such a development may lead to interest rates being raised. Bitcoin (BTC) could suffer under such circumstances.
Additionally, Bitcoin’s (BTC) latest rally hinges on statements made by President Trump. If there is a delay or a change in plans regarding the US purchasing a larger number of cryptocurrencies, we could face a price correction
