Summary:
Bitcoin is approaching $100,000 as momentum builds with Trump's election victory.
The cryptocurrency saw a 1.41% rise to $99,871, with a weekly gain of 5.66%.
Investors infused a net $908 million into US Bitcoin ETFs, showing strong demand.
The Bitcoin Coinbase Premium has recovered, indicating robust investor interest.
Future Bitcoin performance will depend on Trump's crypto commitments, though skepticism exists.
Bitcoin Hits the $100,000 Threshold
Bitcoin is on the verge of hitting the $100,000 mark as it regains momentum with Donald Trumpâs election victory set to be ratified by Congress. On Monday, Bitcoin rose as much as 1.41% to reach $99,871, marking a weekly gain of 5.66%, its largest since November 24.
The Impact of Trump's Victory
The optimism surrounding a pro-crypto White House under Trump has previously pushed Bitcoin to an all-time high of $108,315. As Congress prepares to certify Trumpâs victory, many investors are anticipating a super cycle in 2025, driven by regulatory reforms from the Trump administration.
Record Inflows into Bitcoin ETFs
In a significant shift, investors poured a net $908 million into US Bitcoin exchange-traded funds (ETFs) on Friday, marking the fifth largest inflow since their launch in January 2024. This follows a record net outflow of $680 million on December 19. The recovery of the Bitcoin Coinbase Premium, which tracks price differences between Coinbase and Binance, also indicates stronger investor demand in the US.
Future Outlook for Bitcoin
Bitcoinâs prospects for 2025 will largely depend on whether Trump follows through with his crypto promises, including establishing a national Bitcoin stockpile. However, skepticism remains, as a recent survey indicated that 39% of respondents believe Bitcoin could turn into a losing investment in 2025.
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