Bitcoin experienced a significant surge this week, driven by an optimistic market sentiment following President Trump’s comments about Jerome Powell and easing trade tensions between the US and China. The price broke past resistance levels, surpassing $93,000 before the previous day’s close. This rally has propelled Bitcoin to the fifth-largest asset class, even overtaking Google. The surge is fueled by factors like increasing institutional investments, as evidenced by record inflows into Bitcoin exchange-traded funds (ETFs), and a growing correlation between the Bitcoin price and the global M2 supply. While technical indicators like the MACD and CMF suggest a potential bullish run ahead, it’s unclear if the rally will continue to climb towards the $100,000 mark.