Odaily Planet Daily reported that BTC Markets cryptocurrency analyst Rachael Lucas stated: "Setting a historic high is significant for Bitcoin, marking its development into a more mature asset class, reflecting Bitcoin's transition from a retail-driven asset to one supported by institutional demand, ETFs, and corporate bonds, which enhances its legitimacy." The analyst noted that several factors contributed to Bitcoin breaking through $106,000, including recently elected President Trump expressing his desire to establish a strategic Bitcoin reserve and do 'some great things' with cryptocurrency, as well as MicroStrategy being included in the Nasdaq 100 and Riot recently announcing the purchase of 5,117 BTC. Presto Research analyst Min Jung remarked: "The FOMC meeting scheduled for this Wednesday will provide important insights into the Fed's outlook on the potential interest rate cut." Jung added that cryptocurrency prices are expected to be significantly influenced by announcements or developments related to Trump's inauguration in January next year. (The Block)

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