Today, Bitcoin finally broke through the $100,000 barrier, creating a historic new high, marking a brand new milestone. Let's take a look at several key factors influencing Bitcoin's market.
Policy factors
Trump's support for cryptocurrencies when he was elected president, along with his nomination of Paul Atkins as chairman of the SEC, who also has a positive attitude towards cryptocurrencies, is notable. The current bull market is in the early stages of a breakout, with market sentiment high, while liquidity is in a relatively slow rate-cutting cycle. All of this makes people excited about Bitcoin's subsequent performance. Even if the market undergoes a correction, it may welcome a higher tide in the short term.
The likelihood of passing the Bitcoin strategic reserve bill
After Trump's inauguration, a bill to recognize Bitcoin as a strategic reserve may be passed. If the U.S. includes Bitcoin in its strategic reserves, other countries may follow suit, and sovereign funds may buy Bitcoin in large quantities, thus pushing Bitcoin into a long-term bull market.
Powell's remarks
Recently, Federal Reserve Chairman Powell stated that Bitcoin is a competitor to gold, rather than to the dollar. This means that the U.S. is starting to talk about Bitcoin more openly, viewing it as a substitute for gold, which paves the way for Bitcoin's future development.
The rise of Ethereum
Ethereum has recently shown impressive performance, with prices once soaring to $3900. Meanwhile, some altcoins in the Ethereum ecosystem, such as CRV and CVX, have also begun to rise. It is rumored that CRV is collaborating with BlackRock, which may be one of the factors driving its price increase.
The potential of the Bitcoin ecosystem
The STX mentioned in yesterday's article performed very strongly today. After each black swan event, the Bitcoin ecosystem usually performs robustly, so STX and other projects in the Bitcoin ecosystem are worth continued attention.
Focus on strong domestic U.S. cryptocurrencies
In the current market environment, cryptocurrencies heavily influenced by U.S. policies tend to have greater rebound potential, with the rebounds of XRP and BNB being examples. At the same time, cryptocurrencies closely related to the U.S., especially those that can gain support from U.S. resources, are more likely to rise in the future. Today, Trump announced the appointment of a new SEC chairman, Paul Atkins, who was an advisor to the RSR project and may have a positive impact on RSR.
The integration of AI and the crypto market
With the explosion in the field of artificial intelligence, the combination of AI and cryptocurrency has become a market focus. Musk's XAI signed a $1.08 billion AI server order with NVIDIA, expected to be delivered in January next year, which may promote the performance of the crypto AI sector in the short term. BlackRock is also optimistic that next year's AI boom will drive stock market and economic growth, further invigorating the cryptocurrency AI sector.
The future of RWA, AI, and the crypto market
RWA, AI, Solana, Meme coins, TON, SUI, and other sectors will become core topics in the future crypto market. Although the hype cycle for domestic coins and public chains is relatively short, the AI sector remains a long-term investment highlight, especially against the backdrop of OpenAI's upcoming 12 live broadcasts, which may trigger a new wave of AI enthusiasm.
Noteworthy AI concept coins
Some noteworthy AI concept coins include: FET, WLD, RNDR, NEAR, and TAO. At the same time, the emerging AI MEME+AI Agent concept coins cannot be ignored, such as GOAT, Virtual, AI16Z, ELIZA, AIXBT, etc.
RNDR
Render Network is a distributed GPU rendering network that mainly connects GPU computing needs with miners willing to rent GPU resources. In the current market, the appeal of RNDR depends not only on the adoption of the network but also on the overall market environment. As demand for powerful rendering capabilities rises in multiple industries, RNDR's decentralized model may become a key solution, driving its value growth.
NEAR
The NEAR protocol is an efficient blockchain platform specifically designed for developers to provide decentralized applications, enhancing the system's scalability and performance with its innovative Nightshade sharding technology. In addition to its applications in the AI field, NEAR also has leading technology in chain abstraction and is expected to become the next hotspot in the future.
