Matrixport: Bitcoin will remain strong in December, and these 3 major U.S. events may become market catalysts

After Trump's final victory in the US presidential election earlier this month, the cryptocurrency market welcomed a celebratory rally, with Bitcoin continuing to surge and breaking through multiple price barriers, setting a new all-time high of $93,200 on November 14. Although Bitcoin has seen a slight pullback in the past two days, at the time of writing, the currency price is still around $91,000, at $91,607, with a 24-hour increase of 3.2%.

**Matrixport: Bitcoin's strong performance is expected to continue until December** Against this backdrop, the cryptocurrency financial services platform Matrixport released a weekly report yesterday (15th) stating that Bitcoin's strong performance is expected to continue until December: > After experiencing seven months of consolidation, we have found several factors driving the expansion of Bitcoin's price range. Extraordinary inflows of funds into Bitcoin spot ETFs, starting with a 50 basis point rate cut in mid-September, with Fed Chair Powell assuring the market of an extended rate cut cycle, further expanding the inflows into spot ETFs. > > Affected by the price increase and increased media attention, Bitcoin's strong momentum is expected to continue until December, attracting new investors. Optimism will also surround January 20, 2025, Trump's inauguration, which could lead to a more favorable cryptocurrency regulatory environment, including the appointment of a new SEC chair. > > In addition, the expected announcement of the return of $16.5 billion to FTX creditors may also support market sentiment. These factors create a favorable background for continued bullish sentiment and stabilization of Bitcoin prices. **Three major events to watch in December** Matrixport further added that they believe that by 2025, cryptocurrencies will cross the 8% adoption threshold, which will serve as an important turning point, laying the foundation for larger-scale adoption in the future. And in the last month of this year, the US regulatory landscape will also see three major changes: - **On December 6, S&P Global may include MicroStrategy in the S&P 500 index, which will drive index funds to enter the market;** - **On December 10, Microsoft will consider a proposal to invest in Bitcoin, despite opposition from the board;** - **Starting December 15, the Financial Accounting Standards Board (FASB) will introduce new rules allowing crypto assets to be listed on company balance sheets at fair market value, which will encourage finance departments to include Bitcoin on their balance sheets.** However, Matrixport also reminds investors that when Bitcoin's Relative Strength Index (RSI) reaches overbought levels, or the 30-day rolling return exceeds +40%, the currency price may also consolidate as the momentum cools, but this does not affect the long-term bullish outlook on Bitcoin.