The Bitcoin price model$BTC is rising as the market enters a bullish cycle, with a projected price target of $180,000 per Bitcoin (BTC). Current political and legal changes, particularly the outcome of the presidential elections in the USA, may create new investor interest and impact the cryptocurrency market.
Bitcoin's dominance has reached 59%, the highest level since March 2021. Institutional investments are also increasing, mirroring trends observed in previous bullish cycles and paving the way for significant market activity.
After the elections in the USA, Bitcoin surged to an all-time high of $89,444, fueled by pro-crypto promises from the Trump administration. Polymarket data shows that the market reacted positively to Trump's victory, and Bitcoin rose to $75,000 on election night.
The elected president's campaign promises include reducing regulatory barriers, revising cryptocurrency legislation such as FIT21, and allowing state-registered banks to issue stablecoins without Federal Reserve approval.
