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A few hours before the monetary policy decision in the United States, the price of Bitcoin marked a new all-time high (ATH) of $108,268. The rise generated a notable rally in the prices of the main alternative currencies, including Ethereum (ETH), which returned to $4K.
Meanwhile, flows into Bitcoin spot ETFs on the US stock market reached $630.3 billion on Monday, according to Trading Different. Of these, only BlackRock’s fund, IBIT, received $418.20 million. Another bullish data of the day has to do with the massive abandonments of BTC from centralized exchanges.
As you can see, this is an enormously positive environment for investors and demonstrates the great optimism of the market. In a few weeks, US President-elect Donald Trump will take office and the start of a new era for the Cryptocurrency market is expected.
The latter could coincide with the end of the high-interest rate economy and the historic victory against inflation. As you might expect, this is the biggest cause of FOMO among investors of all sizes and not just in the United States. Companies from countries like India are making rapid progress in diversifying their balance sheets through BTC.
Bitcoin price could reach $110K this week. Source: CoinMarketCap
Bitcoin price could reach $150K in the first quarter
On January 20, Trump will be inaugurated as president of the United States. On that same day, an important event is expected, such as the resignation of Gary Gensler from the SEC. This marks an important precedent and reaffirms the beginning of a new era for the cryptocurrency market.
If the president announces the addition of Bitcoin to the country’s strategic reserves through an executive order, the price of the token could rise significantly. According to Trump himself, his desire is to see BTC at $150,000 per coin during the first months of his term. Likewise, in a recent interview with CNBC, he ratified his decision to convert BTC into a national reserve asset.
Although this proposal receives constant criticism, it seems to be a decided matter on the part of the magnate and his government team. The fact that the authorities of the world’s leading economic power have Bitcoin in the same position as gold is of enormous importance.
Such a context causes nervous large-scale purchases among large companies. Similarly, whales also take the opportunity to improve their positions. In general terms, the conditions seem set for the price of BTC to reach $150K even in the first quarter of 2025.
At the time of writing this note, the price of the largest cryptocurrency remains close to $108K.
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