Bitcoin Only 15% Away From Hitting $100K; Here is What You Need to Know

• Bitcoin’s price breached a new all-time high of $85,000, just 17% away from hitting $100,000
• Donald Trump’s victory in the 2024 U.S. presidential election is seen as a catalyst for Bitcoin’s surge towards $100,000 by the end of 2024
• Factors like increasing inflows into Bitcoin ETFs, expectations of crypto-friendly regulations under a Republican government, and rising stablecoin market capitalization are fueling Bitcoin’s bullish momentum

Bitcoin has broken through the $85,000 barrier for the first time ever. This achievement brings the psychological $100,000 mark tantalizingly close.

JUST IN: BITCOIN $BTC BLASTS THROUGH $86,000 FOR A NEW ALL TIME HIGH 🚀 pic.twitter.com/asoIEyzPdy
— BlockNews (@blocknewsdotcom) November 11, 2024

Trump’s Election Victory Fuels Bitcoin Bull Run

Former President Donald Trump‘s victory in the 2024 US elections is inspiring a new wave of bullishness among crypto investors. The Republican win is driving demand for risk-on assets like Bitcoin, which has been surging since Election Day.

Analysts Expect $100K Before Year’s End

According to analysts, Bitcoin now has a clear path to exceeding $100,000 before the new year. Implied volatility levels and growing leverage in crypto derivatives markets point to the possibility of a dramatic Bitcoin price surge in the coming weeks.

Pro-Crypto Policies Likely Under Republican Congress

The Republican Party has retained control of the Senate in addition to the White House. Many in crypto are optimistic this pro-innovation Congress will introduce crypto-friendly regulations. Industry leaders hope new policies will enable US crypto companies to operate with greater regulatory clarity.

Inflows From Bitcoin ETFs Add Fuel To Rally

Inflows into US-based Bitcoin exchange-traded funds (ETFs) are also boosting Bitcoin’s price. For example, BlackRock’s Bitcoin ETF saw $1 billion of trading volume in the minutes after Trump’s victory was announced. More inflows of this nature could propel Bitcoin over $100K.

The stage appears set for Bitcoin to continue its historic bull run. While the $100,000 mark is not guaranteed, Bitcoin’s momentum and supportive conditions in crypto markets point to an exciting couple of months ahead.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.