According to Cointelegraph: Bitcoin (BTC) could reach the six-figure milestone of $100,000 by the close of 2024, following Donald Trump’s victory in the U.S. presidential election on November 5. Trump’s success in reclaiming key swing states has fueled investor optimism in the crypto market, with analysts anticipating pro-crypto policies that could further drive Bitcoin’s momentum.
Market Signals Point to Increased Bitcoin Volatility
According to Bitget Research’s chief analyst, Ryan Lee, implied volatility in the derivatives market and rising open interest in Bitcoin futures indicate that traders are bracing for a highly volatile BTC rally. With stablecoin market capitalization at a record high of $160 billion, significant leverage could push Bitcoin to $100,000 within the next three months.
Republican Congress Paves Way for Favorable Crypto Regulations
With the Republican Party now controlling both the Senate and Congress, crypto industry advocates are hopeful for a pro-innovation regulatory approach. Coinbase CEO Brian Armstrong described this Congress as “the most pro-crypto ever,” and Lee echoed this sentiment, expecting a more favorable environment for blockchain innovation. However, he also noted that Trump’s policies could keep U.S. inflation above 3.5% in the medium term, which may indirectly impact Bitcoin’s appeal as a hedge against inflation.
Bitcoin ETFs Surge Following Trump’s Win
Following Trump’s election, U.S.-based spot Bitcoin ETFs recorded a cumulative net inflow of $621 million on November 6, marking one of the largest daily inflows since January. This uptick reflects Wall Street’s growing confidence in the crypto market’s future, with institutional investors showing strong support by taking long positions through futures contracts.
Analysts Eye $100K as Bitcoin’s Next Target
With increased ETF inflows and positive market sentiment, Bitcoin’s price may be on an upward trajectory that could solidify its position above $60,000, according to economist Alex Krüger. Lee suggests that favorable regulatory changes, coupled with growing institutional participation, could push Bitcoin to unprecedented heights, potentially breaking $100,000 by year-end.
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