Bitcoin (BTC) has maintained its strong bullish momentum and surged to a new all-time high of $84,390, bolstered by Donald Trump’s recent US Presidential election win.
It is worth mentioning that the Trump’s victory, along with the election of pro-crypto figures in Congress, has revived hopes for a more favorable regulatory environment in the United States, where investors believe fewer restrictions will likely open doors for growth and innovation in digital assets.
During his campaign, Donald Trump promised to recognize Bitcoin as a strategic asset for the US and hinted that the government would become a long-term BTC holder.
At the moment, the US government holds about 208,109 BTC, worth around $16.57 billion. This commitment could stabilize the market by reducing the risk of oversupply, with many hoping it may soon push Bitcoin closer to the $100,000 milestone.
Bitcoin Hits Record Highs Amid Institutional Investments and Post-Election Optimism
As we mentioned above, Bitcoin recently reached a new all-time high of $84,400, pushing its total market value over $1.6 trillion. This strong jump is due to growing confidence in the market after Donald Trump’s recent election win, with his promises to strengthen the U.S. role in digital assets.
The rise also shows strong interest from big investors, like BlackRock’s Bitcoin Trust (IBIT), which raised $1.1 billion in one day.
Overall, Bitcoin ETFs attracted $1.34 billion in new investments, with companies like Fidelity and ARK 21Shares also seeing large inflows.
Donald Trump’s win, especially in important states like Arizona, has increased excitement. Investors are hopeful about his plan to create a Bitcoin reserve for the U.S., which could encourage more people to use crypto.
Copper.co’s Head of Research believes Bitcoin could reach $100,000 by Trump’s inauguration on January 20, thanks to growing investments in Bitcoin ETFs.
This excitement has helped boost the entire crypto market, which now has a total value of $2.71 trillion, showing strong interest from both big investors and the public.
MicroStrategy’s Bold Bitcoin Strategy Sparks Market Optimism and Boosts BTC Price
Moreover, MicroStrategy has made incredible profits from its bold investment in Bitcoin, showing that its long-term strategy is paying off. The company, led by CEO Michael Saylor, has been buying Bitcoin since 2020, even during times of market uncertainty.
This approach has proven successful as Bitcoin’s price continues to rise, putting MicroStrategy in a strong financial position.
Many see this move as visionary, especially as traditional companies typically avoid such large investments in digital assets.
MicroStrategy’s success has also fueled positive sentiment in the wider crypto market. Other companies and investors now view Bitcoin as a profitable and reliable asset, prompting a growing wave of institutional interest.
This confidence has been particularly boosted by recent increases in Bitcoin’s value, making MicroStrategy’s investment look even more impressive. The company’s example could inspire others to explore Bitcoin as a serious long-term investment, further strengthening its role in the financial world.
Therefore, these substantial Bitcoin profits have boosted investor confidence, driving more institutional interest in BTC and positively impacting its price. This growing demand from major players has added upward pressure on BTC, supporting its recent record-breaking price gains.
Bitcoin Surges to $84,150 Amid Strong Bullish Momentum, Eyeing Key Resistance at $84,600
Bitcoin’s bullish rally continues, climbing to a new peak of $84,150. The primary pivot point is at $82,250, a critical level consolidating recent gains.
Immediate resistance is found at $84,600, with the next barriers at $87,160 and $90,000. Support lies at $80,400, with further backing levels at $77,800 and $75,400.
The RSI has entered overbought territory at 81, signaling potential caution for new buyers. The 50-day EMA around $68,500 provides a longer-term support buffer.
Technical Indicators:
RSI: 81 (Overbought) 50 EMA: $68,500Conclusion: Bitcoin’s upward momentum remains strong, though overbought conditions may lead to short-term retracement.
–
Flockerz ($FLOCK) Gaining Momentum with Unique “Vote-to-Earn” Model
Flockerz ($FLOCK) continues to attract attention in the meme coin space, raising $1,470,834 out of a target of $1,630,831. With only less than a day left before the price increases to $0.005981, investors have a limited window to acquire $FLOCK at the current rate.
This project distinguishes itself with a decentralized autonomous organization (DAO), Flocktopia, empowering $FLOCK holders to actively participate in governance. Each investor influences the project’s direction, aligning community interests with token growth.
Long-term incentives remain a highlight, offering staking rewards up to 7,888%, fostering engagement and enhancing token scarcity.
With listings on major exchanges and influencer endorsements anticipated, Flockerz aims to establish a significant presence in Web3.
Secure your $FLOCK using ETH, BNB, USDT, or a bank card on the official presale website.
Visit the Flockerz Presale Website.
The post Bitcoin Price Hits All-Time High of $84,000 – How Quickly Can BTC Get to $100,000? appeared first on Cryptonews.
