The latest quote for Bitcoin (BTC) is $101,672, up 2.6% in the last 24 hours, reaching a historical high. Market trading volume has surged to $3.8 billion, marking an unprecedented critical period for the cryptocurrency market.
In just a few months, the price of Bitcoin has climbed from $50,000 to six figures, reflecting not only institutional recognition but also indicating that the market's demand for hedging is shifting.
Three major driving forces, solid foundation for BTC bull market
1. Trump takes office, with positive policy expectations
The soon-to-be President Trump has publicly expressed interest in blockchain technology multiple times. The market generally expects the new government to introduce more innovation-friendly policies, which provides policy support for BTC's continued rise.
2. Institutions are aggressively increasing holdings
According to the latest on-chain data, Grayscale has added over 8,000 BTC to its holdings in the past week. Other institutions, such as MicroStrategy and ARK Invest, are also continuously expanding their cryptocurrency portfolios, indicating strong confidence in Bitcoin's long-term value.
3. Weaker dollar leads to increased demand for safe-haven assets
As the US dollar index continues to decline, global investors are looking for more stable value storage methods. Bitcoin, as digital gold, is becoming an important choice for global capital to hedge against risks.
Key levels: Support and resistance
BTC is currently facing strong upward momentum, but short-term adjustment risks should also be noted.
• Support levels: $100,000, $98,000
• Resistance levels: $105,000, $110,000
Short-term trading strategy
1. Breakout buying:
• After the current price breaks $101,000, the target can be set at $105,000-$110,000.
• Set stop-loss at $99,000 to guard against sharp market fluctuations.
2. Pullback layout:
• If the price retraces to $100,000 and stabilizes, positions can be gradually accumulated.
• Set profit target at $105,000, with stop-loss below $98,000.
Long-term investors should note$BTC
Strong signals from institutional involvement and the market's demand for BTC as a hedge indicate that the Bitcoin bull market is far from over. If you are a long-term investor, the current pullback may be an opportunity to accumulate positions again.
• How much do you think Bitcoin can rise? Will the peak of this bull market be $120,000 or higher? Feel free to share your predictions in the comments!
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