According to The Business Times on December 30, with 2024 approaching, the surge in Bitcoin triggered by the election victory of U.S. President-elect Trump in early November has stalled. Trump's preference for friendly regulation of cryptocurrencies and support for national Bitcoin reserves has boosted digital assets. However, the reduction in expectations for interest rate cuts by the Federal Reserve has cooled speculative fervor. After Trump takes office on January 20, the U.S. cryptocurrency framework may become clearer.
Chris Weston, research director at Pepperstone Group, stated that Bitcoin's 'momentum comes from the post-election trend,' partly due to the outflow of funds from ETFs. Meanwhile, the largest Bitcoin-holding company, MicroStrategy, has been aggressively buying Bitcoin in recent weeks. Traders are watching to see if this company, which has over $40 billion in digital assets, will continue to purchase Bitcoin.
