Chainfeeds Summary:
GSR research analyst Toe Bautista said after Trump's victory in the US election that many project parties have been waiting for the right moment, observing the situation of other token issuances and the election results. He also believes that if the macroeconomic conditions remain favorable, the price of Bitcoin could rise further. "It's easy to foresee Bitcoin reaching $90,000, whether it's Q1 next year or the end of the month."
Source:
https://www.theblockbeats.info/news/55761
Author:
A New World of Ray
Viewpoint:
A New World of Ray: MicroStrategy is a company that holds a large amount of Bitcoin, currently holding a total of 252,220 Bitcoins, with a total purchase cost of about $9.9 billion and an average purchase price of $39,266. The current total value of the Bitcoin holdings is about $20.177 billion. This strategy of holding a large amount of BTC has made MicroStrategy one of the important participants in the Bitcoin market. In terms of BTC ETFs, they have been closely watched by the market since their launch and have once driven the Bitcoin price to a new high. However, ETF funds experienced net outflows in the early stage, but the recent trend has changed, and BTC ETFs have seen sustained large inflows. The inflows of the top 10 BTC ETFs have continued to increase in the past 7 days, not only setting a new high for daily net inflows, but also pushing the holdings to a new high. The market logic suggests that with Trump's election, the political power in the US may increase its support for cryptocurrencies, and the capital allocation of traditional financial institutions may also increase accordingly. BTC ETFs have become a convenient channel for traditional financial investors to invest in cryptocurrencies, and with Trump's support, the attractiveness of BTC ETFs to US stock investors may be further enhanced. The Federal Reserve's monetary policy changes have had a significant impact on the Bitcoin market. In September 2024, the Federal Reserve cut interest rates by 50 basis points, a move that exceeded expectations and caused Bitcoin to surge. The November policy meeting further confirmed a 25 basis point rate cut, a move that was widely interpreted by the market as a positive factor, especially since the starting point of the previous bull market was triggered by the rate cut in March 2020. In terms of CPI, the latest CPI data in the US was released as expected, and the US stock market reacted calmly to the data, but the Bitcoin price quickly rose, breaking through $90,000. Market sentiment shows that investors' rational return to CPI data reflects their weakening expectations of the impact of the Federal Reserve's loose monetary policy. Overall, the news of rate cuts is seen as a positive factor for Bitcoin, and the CPI data meeting expectations has also led to a stable market development. The market is currently maintaining an overall positive momentum. PlanB, the creator of the Bitcoin Stock-to-Flow (S2F) model, has a reputation in the industry for his unique scarcity model, and has made predictions about the potential impact of Trump's upcoming presidential election victory on Bitcoin prices. According to his prediction, if Trump wins the election in November, Bitcoin prices could rise to $100,000. He believes that Trump's victory could bring friendly policies for Bitcoin, ending the "war" on cryptocurrencies by the Biden/Harris administration. In December, PlanB predicts that the influx of ETF funds will further push Bitcoin to $150,000. By January 2025, as the crypto industry gradually returns to the US, Bitcoin prices are expected to rise to $200,000. PlanB's analysis also covers the long-term market outlook from 2025 to 2027, and points out that the scarcity of Bitcoin is the core factor driving its long-term value growth. His scenario analysis suggests that if Trump wins, it will provide a favorable policy environment for the continued rise in Bitcoin prices.
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