Here is the English translation of the text, with the specified terms retained and not translated:
The recent Bitcoin, after failing to break through the $100,000 target, has seen a correction, and the market funds have started to focus on Altcoins, with Ethereum, ADA and other cryptocurrencies starting to catch up. Among them, the veteran public chain Ripple (XRP) has performed impressively this month, reaching $1.71 at the time of writing, with a 24-hour increase of 18%, and a 228% jump in the past month, with a market capitalization exceeding $100 billion, successfully surpassing BNB to become the fourth largest cryptocurrency (excluding the stablecoin USDT).
Does the regulatory relaxation help the rise of XRP?
We know that as an established public chain, compared to Solana and Ethereum, Ripple (XRP) is slightly behind in terms of both currency price and ecological development. At the same time, due to the long-standing lawsuit between the SEC and Ripple, it has also been overlooked by the market and even not optimistic.
However, with Trump's victory in the US election and his open attitude towards cryptocurrencies, as well as the announcement by SEC Chairman Gary Gensler that he will resign in January when Trump takes office, current investors believe that cryptocurrency companies that have been in litigation with the SEC will be able to be liberated under the Trump administration.
On the other hand, under the friendly cryptocurrency regulatory outlook, there are currently many investors and institutions starting to seek cryptocurrency spot ETFs other than Bitcoin and Ethereum, and the current hot candidate tokens include SOL, DOGE, XRP, etc.
Bitwise warns: US dollar strength could hinder Bitcoin's assault on the $100,000 mark
In addition, regarding the trend of Bitcoin, Bitwise analysts recently stated that the US dollar index has risen from 103.42 on the day of Trump's victory to the current level of 106, which may hinder Bitcoin's assault on the $100,000 mark:
> Historical data shows that Bitcoin is often constrained when the US dollar is strong. In addition, the strengthening of the US dollar often signals a tightening of global liquidity, which is the most important economic factor affecting Bitcoin at the moment.
In addition, Bitwise analysts also pointed out that another major factor that may hinder the rise of Bitcoin is the increased likelihood of the Bank of Japan raising interest rates on December 19. According to a previous report by BlockTempo, the October CPI data released by the Japanese Ministry of Internal Affairs and Communications this month showed that inflationary pressure in Japan still exists, and the exchange rate of the US dollar against the Japanese yen has also recently declined, which will increase the possibility of the Bank of Japan raising interest rates at its next month's interest rate meeting.
If Japan raises interest rates again, the yen carry trade arbitrage that previously caused turmoil in the global capital market may also reappear, and Bitcoin may also be affected.
State Street Global Advisors: The recent Bitcoin surge has given investors a false sense of security
In addition, George Milling-Stanley, Chief Strategy Officer of State Street Global Advisors, recently stated that Bitcoin's surge this month may have already given investors a false sense of security, because current investors tend to buy in order to profit from Bitcoin investments, rather than seeing the long-term value of Bitcoin:
> In simple terms, Bitcoin investment is a behavior of seeking returns, which indicates that the influx of investors is to chase profits, rather than seeing the long-term value or use of Bitcoin.
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> The Bitcoin ETF options launched last week may be related to this, as people can bet on price fluctuations with smaller capital, but they don't actually buy Bitcoin.
