Bitcoin price analysis: US backing drives cryptocurrency to new all-time highs
Bitcoin keeps rising, and this time it’s not just because of the market. In , the promises to turn the country into the new global center of . Political and financial signals seem to be aligning for massive adoption for the first time.
A new peak for bitcoin in a favorable climate
Bitcoin reached a new all-time high on Monday, surpassing $123,000, after being at $108,000 just a week ago. It is now the fifth most valuable asset class on the planet, with a market capitalization exceeding $2.4 trillion, even surpassing Amazon.
The enthusiasm is not just coming from the market: e. The support of influential figures like Donald Trump and the strong lobbying of the sector have created unprecedented pressure to accelerate legislation.
Among the initiatives is a law already approved by the Senate that r, and a much broader one that seeks to define the complete structure of the crypto market. Expectations are high, both inside and outside the financial system.
Policies, promises, and a growing industry
which was skeptical of the crypto world in the past, has drastically changed its stance. It now proposes to make the U.S. the global capital of cryptocurrencies if it returns to the presidency. His influence goes beyond just words: his family is involved in mining, million-dollar investments in bitcoin, launching their own stablecoin, and even a meme coin with his brand.
Feeling under attack during Biden’s administration, the industry has invested substantial sums in political campaigns, lobbying, and influence actions. Bitcoin spot ETFs —launched last year— have gained traction, and several publicly traded companies are adopting strategies of massive BTC buying through debt and shares.
has established itself as a voice to be reckoned with, and the markets respond with enthusiasm. Adam Back, CEO of Blockstream, sums it up: “Institutional demand is aligning with the fundamentals of bitcoin. And its limited supply is doing exactly what it was designed to do.”
