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Bitcoin is at the edge of making history, $100K on the back of US regulatory decisions and institutional interest. Trading at $98,944 Friday morning, it earlier hit $99,368 all time high on hopes of crypto friendly policies under President elect Donald Trump. The broader crypto market has added $1 trillion in value since November 5th.
BTC’s Momentum Driven by Regulatory Changes
Big regulatory changes could be coming for the crypto market with Trump in office. The news of SEC Chair Gary Gensler resigning, effective January 20th 2025 has given many hope for lighter enforcement on crypto assets.
Trump’s transition team is considering a White House role for digital-asset policy, a sign that the framework would be more friendly. This has reportedly been what’s been driving the recent BTC rally, according to Chris Weston at Pepperstone Group, who pointed to ETF inflows and regulatory expectations.
Also, Bitcoin ETFs have seen over $6.8 billion in net inflows since the election, with total US Bitcoin ETFs over $100 billion. All these factors are creating a kind of “gravity” towards the $100,000 mark.
Institutional Interest and Market Growth
Wall Street is getting into Bitcoin, as seen by Charles Schwab announcing they will offer spot crypto trading when regulations allow. Meanwhile MicroStrategy, a big BTC holder, is planning to accelerate their token buying, adding to the sentiment.
Bitcoin ETF options have also contributed to the rally as new ways for institutions and retail to get involved in the asset. These developments are seeing Bitcoin settle as it becomes more part of the mainstream financial system-a store of value and portfolio hedge.
However, sceptics remain. Themis Themistocleous, chief investment officer at UBS Wealth Management, said BTC was too volatile and recommended gold as a hedge. $100,000 is the benchmark for Bitcoin enthusiasts to prove to the naysayers that BTC has a use and the market isn’t freezing.
A New Era for US Crypto Policy?
This is a big question. Trump is the antithesis of previous regulatory regimes. He was heavily backed by the crypto industry during his campaigns, who spent big to get their message out. There have been whispers of a US Bitcoin reserve, but no one knows the timeline or probability of that.
The Bitcoin euphoria has washed away the pain of the 2022 market crash, which exposed the system’s vulnerabilities and led to increased SEC enforcement. The crypto world is looking forward to the Trump era of loosening regulatory grip and new opportunities for growth and innovation.
Conclusion
BTC’s flirtation with $100,000 is part of a bigger trend in the US crypto landscape. With regulations, institutionalization and more ways to get involved, BTC would play new roles in the global financial system. There are still hurdles, but the journey to $100,000 is proof that digital assets are becoming the foundation of the future economy.
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