10x Research pointed out in a research report that after Bitcoin first broke through the $100,000 mark, new trading signals indicated that the price might reach $120,000 when Trump takes office. (Background: Bitcoin slightly dips, altcoins crash, is the bull market still on?) (Additional context: Bitwise's top 10 predictions for 2025: BTC, ETH, SOL will reach new highs, the number of countries holding Bitcoin will double, and 5 crypto unicorns will go public) Bitcoin surged to $106,600 this morning, reaching an all-time high, currently reported at $105,214, with a nearly 24-hour increase of 3.9%. Recently, it has set a record of seven consecutive days of increases since Trump was elected, and analysts pointed out that this wave might continue until Trump takes office. Analyst: The U.S. presidential inauguration could push Bitcoin to $120,000. 0x Research posted on platform X that the new Bitcoin price target is to reach $120,000 before Trump's inauguration on January, consolidating analyses based on market news and technical analysis, suggesting that the market may be expecting Trump's market trend to peak at the presidential inauguration: Bitcoin's upward momentum has resumed after consolidation, cryptocurrency exchanges are experiencing massive capital outflows, significantly reducing the availability of Bitcoin on trading platforms. At the same time, inventories on over-the-counter trading platforms are also decreasing. These factors collectively indicate that Bitcoin's price may be under pressure. Based on trading model analysis, 0x Research stated that by January 20, 2025, when Trump takes office, Bitcoin could soar to $120,000, and the probability of this happening is estimated to be 83.33%. All favorable conditions are present, but not yet fully realized. 0x Research indicated that the surge in December was mainly driven by three major Bitcoin catalysts estimated from market dates, such as MicroStrategy being included in the S&P 500 index (the result is Nasdaq 100), Microsoft's proposal to consider Bitcoin as a treasury asset (probability of 10%), and the accounting rules from the U.S. Financial Accounting Standards Board regarding fair value reporting for crypto assets (probability of 100%), all of which have been confirmed. Furthermore, MicroStrategy may also issue more convertible bonds to increase its Ethereum holdings soon, which provides considerable support for Bitcoin's sharp drop. If Bitcoin does not pull back this week, it may continue to break upward. Related reports: Bridgewater's Dalio: I will 'invest in Bitcoin and gold' away from bonds to hedge against the risk of significant currency depreciation. Trump hopes Bitcoin can 'break through $150,000' early in his term: Recent increases are largely thanks to me. Goldman Sachs: If U.S. regulations change, we will consider trading Bitcoin and Ethereum. "Surge! Bitcoin breaks through $106,600, analysts optimistic: Trump’s inauguration will push it to $120,000" This article was first published by BlockTempo (the most influential blockchain news media).

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