Galaxy Research stated in a report on Tuesday that the Bitcoin (BTC) bull market will continue, expecting BTC to break the $100,000 mark in the short term. The report indicates that the increasing adoption of Bitcoin by institutions and businesses, 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 introduction of ETF options may increase liquidity and potentially reduce volatility. This could attract large institutions to the market while stimulating retail demand. Galaxy Research director Alex Thorn stated that although the outgoing Biden administration may even take some unsettling regulatory or enforcement actions that could make the market uneasy, the outlook for Bitcoin over the next two years "seems unique and bullish," and the options market data is also bullish.
