- • 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.
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.
