#Bitcoin breaks through $100,000#

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Overview

Bitcoin's recent surge past $100,000 has fueled bullish sentiment for the cryptocurrency and the broader crypto market, driven by market expectations surrounding Donald Trump's presidency and increased inflows into US-listed spot Bitcoin exchange-traded funds (ETFs). Traders anticipate that Trump's crypto policies and broader economic plans will propel Bitcoin prices higher and potentially trigger an altcoin rally. Some traders are eyeing the $109,000 level, believing that a break above this all-time high would confirm the bullish trend. However, market volatility is expected to remain subdued ahead of Friday's US nonfarm payrolls data release. A strong nonfarm payrolls report could boost the US dollar, potentially leading to higher interest rates, which could negatively impact risk assets like stocks and Bitcoin.

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Analysis

Bitcoin's price surge past $100,000 has fueled bullish sentiment for the cryptocurrency and the broader crypto market, driven by market expectations surrounding President Trump's inauguration and inflows into spot Bitcoin exchange-traded funds (ETFs) listed in the US. Traders have returned from the holidays and are exhibiting a bullish bias, with some targeting the $109,000 level in the short term before confirming the uptrend and setting the stage for higher prices. The market is watching for Trump's policies on cryptocurrencies and bullish catalysts, with volatility expected to remain low until Friday's US nonfarm payrolls (NFP) report, which some believe will kick off the new trading year. Strong NFP data could boost the dollar, potentially leading to rising interest rates, which could negatively impact risk assets like stocks and Bitcoin.

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Classic Views

Trump's inauguration will bring good news, pushing Bitcoin prices up

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Bitcoin traders are optimistic about Trump's cryptocurrency policy, expecting prices to break through $109,000

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Bitcoin ETF fund inflows hit a new high, showing strong investor interest in cryptocurrencies

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Technical analysis shows that Bitcoin prices may have completed their correction and are about to enter a new upward trend

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