As Bitcoin stands at $97,630, down around 0.13% over the past 24 hours with a market cap of $1.93 trillion, market participants are closely monitoring the cryptocurrency’s trajectory. Recent developments in regulatory clarity, institutional adoption, and political shifts are shaping Bitcoin’s future, with some analysts projecting new highs in 2025.
Trump’s Impact on Bitcoin’s Growth
Donald Trump’s re-election in November has significantly influenced BTC’s rally. Previously a critic of cryptocurrencies, Trump has shifted gears, calling for the U.S. to become “the crypto capital of the planet.”
His administration has nominated Paul Atkins, a well-known crypto advocate, as SEC Chair, fostering optimism for favorable regulatory changes.
With discussions of a potential strategic BTC reserve circulating in Washington, the U.S. government’s backing of Bitcoin could further bolster its market position.
Pieran Maru, a fund manager at Liontrust, notes, “The incoming Trump administration could create the most crypto-friendly environment in the world, setting the stage for exponential growth.”
The potential for U.S. government involvement in Bitcoin is seen as a game-changer, likely to encourage broader adoption and stabilize its position as a globally recognized asset.
Updated Institutional Adoption Accelerates Bitcoin’s Legitimacy
Institutional interest in Bitcoin continues to grow, driven by the rising adoption of spot Bitcoin ETFs. As of January 3, 2025, Bitcoin ETFs manage $113.52 billion in Assets Under Management (AUM), with net inflows of $907.3 million on the same day, underscoring robust demand from institutional investors.
Spot ETFs have simplified access to Bitcoin for banks, pension funds, and hedge funds, cementing its role in mainstream finance.
BlackRock’s research highlights Bitcoin’s diversification benefits, noting that a 1-2% allocation in a 60/40 portfolio offers a risk-reward profile comparable to leading tech stocks.
Regulatory shifts further support Bitcoin’s legitimacy. The U.S. SEC is advancing crypto-friendly policies, while the UK’s Financial Conduct Authority is easing restrictions.
Combined with growing ETF inflows, these factors reinforce Bitcoin’s standing as a credible institutional asset.
Bitcoin’s Technical Outlook: Key Levels to Watch
Bitcoin is testing key resistance near $98,000, a level reinforced by a downward trendline. Immediate resistance levels stand at $98,000, followed by $100,071 and $102,010.
On the downside, support zones are positioned at $96,375, $95,446, and $93,344.
The Relative Strength Index (RSI) sits at 58, reflecting neutral momentum, while Bitcoin remains above its 50-day Exponential Moving Average (EMA) at $96,375.
This suggests moderate bullish sentiment but also highlights the importance of breaking the $98,000 resistance to unlock further upside potential.
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