#Bitcoin breaks through $100,000#

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Overview

Bitcoin's price recently broke through $100,000 and continues to rise, with market sentiment fueled by expectations of Donald Trump's presidency and inflows from US-listed spot Bitcoin exchange-traded funds (ETFs). Traders anticipate Bitcoin's price to break through $109,000 in the short term and continue its upward trajectory. Some traders believe that Trump's crypto policies and broader economic plans will drive Bitcoin's price higher and could be a precursor to an altcoin rally. However, market volatility remains, with some suggesting that the US Non-Farm Payrolls (NFP) data and the Federal Reserve's monetary policy could negatively impact Bitcoin's price.

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Analysis

Bitcoin surged past $100,000, fueled by market expectations of Donald Trump's presidency and optimism surrounding cryptocurrency policy. The cryptocurrency gained 10% in the past week, reclaiming the $102,000 level late Monday, erasing almost all losses since early December. Traders anticipate that Trump's cryptocurrency policies and broader economic plans will boost Bitcoin prices and propel it to higher levels. Some traders are eyeing the $109,000 level, believing that a break above this all-time high would confirm the bullish trend. Additionally, record inflows into US-listed spot Bitcoin exchange-traded funds (ETFs) indicate market optimism towards Bitcoin. However, market volatility is expected to remain subdued ahead of Friday's US nonfarm payrolls data release, as a strong NFP reading could boost the dollar, potentially leading to rising interest rates, negatively impacting risk assets like stocks and Bitcoin.

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Discussion Word Cloud

Classic Views

Trump's inauguration will bring benefits, pushing Bitcoin prices up

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Bitcoin traders expect prices to break through $109,000 and rise further

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Bitcoin ETF fund inflows are strong, showing investors' strong interest in cryptocurrencies

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The market is watching Trump's policies and economic plans on cryptocurrencies

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