The Bitcoin market is booming in anticipation of upcoming pro-crypto measures by Donald Trump, who is set to become the 47th President of the United States.
Bitcoin's Rise and Trump's Role
On the day Donald Trump defeated Kamala Harris, Bitcoin's price was around $69,377.56. Since then, the market has risen by 55.7%. From November 6 to 15, the market grew by 34.19%. On November 19, Bitcoin entered the $91,976.73–$106,169.45 range, surpassing it today to reach $108,060.38.
Crypto Market Speculations
The new Trump administration is expected to implement several pro-crypto measures. There are rumors of establishing a BTC reserve and a cryptocurrency advisory council. Polymarket assigns a 60% probability to the BTC reserve proposal.
Institutional Investments Through ETFs
Data from Coinglass shows that the total Bitcoin Spot ETF Net Inflow stands at +38.27B. Between January 15 and 17, the market saw an inflow of 2,356.8M, indicating growing institutional confidence in Bitcoin.
Bitcoin's surge to new highs and Trump's pro-crypto stance mark a pivotal moment for the market. Speculation and policy changes may lead to unprecedented growth and volatility.
