Analysis: Bitcoin may have entered "Santa Claus mode" and is expected to reach $125,000 by early next year

Odaily reported that ZK Square's Chief Investment Officer CK Zheng said that BTC may have entered "Santa Claus mode" as many investors are worried about missing out and want to allocate more capital to this asset class. He predicted that BTC price will reach $125,000 by early 2025, but warned that due to the fact that most of the positive news about the incoming Trump administration has already been priced in by the market, there may be a 30% correction afterwards, bringing BTC back to around $87,500. Meanwhile, Strike founder and CEO Jack Mallers said that Trump may issue an executive order on January 20th, his first day in office, to designate BTC as a reserve asset. He added: "It won't be a 1 million BTC position to start, but it will be a sizable position." (Cointelegraph)