This week, Bitcoin broke through the $90,000 mark in one fell swoop, reaching a high of $93,000, setting a new record high. In the following trading days, it adjusted and corrected, with a low of $86,700. It currently maintains a high of $90,000.
So, is the bull market of Bitcoin still there? Let's listen to Fenglang's personal opinion. This article discusses and exchanges from several angles.
1. The direction of the organization
Since January, the trading volume of Bitcoin spot has exceeded 500 billion US dollars, and the total net asset value is 94.12 billion US dollars, setting a record high. According to statistics, MicroStrategy ranks first among listed companies holding Bitcoin, holding more than 250,000 BTC, with a holding value of approximately 26 billion US dollars, and the company plans to raise another 42 billion US dollars in the next three years to further increase its Bitcoin investment.
Since Trump's election victory, spot ETFs have attracted $4.7 billion in inflows, with total net inflows reaching $28.3 billion since listing. Currently, the asset management scale of all Bitcoin ETFs is about $88.5 billion, of which IBIT ranks first with $41.1 billion.
As Bitcoin hit a new high of over $93,000, its total market value has continued to rise, surpassing silver's $1.734 trillion and Saudi Aramco's $1.79 trillion, rising to the seventh place in the world's mainstream assets at $1.84 trillion. The investment value of Bitcoin has gradually expanded, attracting institutional funds to gradually flow into the cryptocurrency market. The injection of institutional funds has provided strong support for the price of Bitcoin.
2. Policy changes
Trump promised during his campaign to make the United States the crypto capital of the planet and to amass a national reserve of Bitcoin. Although the details and timeline for its implementation remain unclear, the possibility has already sparked a surge in speculation about cryptocurrencies.
In addition, the regulatory policies of countries around the world are also an important risk factor in the cryptocurrency market and an important guarantee for the market to move towards mainstream. The approval of Bitcoin ETFs in the United States and the introduction of policies such as MiCA in Europe have provided a foundation for market stability. As the regulatory frameworks of various countries gradually improve and the compliance of the market improves, investors' confidence in crypto assets will be further enhanced.
3. Market trend
The last bull market started in October, accelerated in February of the following year, and reached its peak in March, which took five months. From a historical perspective, similarly, this bull market started in October and accelerated with the US election, which has only been a month. Although history will not simply repeat itself, it is always surprisingly similar!
Looking at the market, the bull market is a phased trend. Apart from the impact of news, most of the time it is in a large-scale box oscillation, similar to a ladder structure. This time, with Trump's successful inauguration, the price has reached a new high of $93,000. Whether in terms of price or time, this bull market is far from over!
Do you think the bull market is over? Feel free to discuss.
I am Fenglang, I never make ambiguous analyses, if you like me please follow me #BTC冲破9万
