Analysis: Trump's potential establishment of BTC strategic reserves and other factors help BTC reach new highs

Odaily Planet Daily News BTC Markets Cryptocurrency analyst Rachael Lucas said, “Setting a new historical high is significant for BTC, marking its development into a more mature asset class, reflecting the transformation of BTC from a retail investor-driven asset to one supported by institutional demand, ETFs, and corporate bonds, enhancing its legitimacy.” Analysts say there are several factors behind BTC breaking through $106,000, including US President-elect Trump recently stating that he hopes to establish a strategic BTC reserve and do ‘some great things’ with cryptocurrency, as well as MicroStrategy being included in the Nasdaq 100 and Riot announcing the purchase of 5,117 BTC. Presto Research analyst Min Jung said, “The FOMC meeting scheduled for this Wednesday will provide important insights for the Fed’s potential interest rate cut prospects.” Jung added that Cryptocurrency prices are expected to be significantly affected by announcements or developments related to Trump’s inauguration ceremony in January next year. (The Block)

BTC1.78%
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