According to ChainCatcher news and a report by CoinDesk, Galaxy Research stated in a study report on Tuesday that the Bitcoin (BTC) bull market will continue, and BTC is expected to break the $100,000 mark in the short term.
The report indicates that an increasing number of institutions and businesses are adopting Bitcoin, the possibility of establishing Bitcoin national reserves, and the new U.S. government's support for cryptocurrencies all suggest that Bitcoin will rise in the near and medium term. The launch of ETF options may increase liquidity and potentially reduce volatility. This could attract large institutions into the market while stimulating retail demand.
Galaxy Research Director Alex Thorn stated that while the soon-to-be-outgoing Biden administration may take some unsettling regulatory or enforcement actions that could disturb the market, the trend for Bitcoin over the next two years seems 'unique and bullish', with options market data also being bullish.
