Bitcoin breaches $94000 mark ,Donald Trump's does pump BTC rally

Bitcoin metric breakout teases inevitable 90% BTC price rally next 

{Bitcoin}

{Bitcoin may see a strong bull rally if one classic BTC price metric repeats a historical breakout}

Bitcoin bulls will benefit from an average BTC price surge of 90% if the Puell Multiple stages a rare breakout.

Analysing behaviour over the past five years, Crypto Quant shows that the metric has crossed its 365-day moving average just three times. On each occasion, BTCUSD "experienced significant price surges"

Puell Multiple nears BTC price breakout line.

Bitcoin bulls will benefit from an average BTC price surge of 90%, if the Puell Multiple stages a rare breakout

Analysing behaviour over the past five years, Crypto Quant shows that the metric has crossed its 365 day moving average just three times. On each occasion, BTCUSD "experienced significant price surges"

"Puell Multiple helps us understand market cycles from a mining perspective. Crypto Quant contributor Burakkesmeci said.

RSI signals Bitcoin bull market just beginning

As Cointelegraph reported, various analysts now see Bitcoin's most intense upside still lying ahead, despite BTCUSD gaining over 40% in Q4 so far

The market's "parabolic phase' has notionally begun, lasting for around 300 days before a new macro top sets in.

Locally, expectations of Bitcoin reaching six figures for the first time in history are. increasing, tempered by concerns that retail "FOMO" may force a significant correction.

"Lots of people about to become intimately. familiar with the phrase, Fear of Missing Out (FOMO), on this Bitcoin cycle, commentator Preston Pysh, co-founder of The Investor's Podcast, predicted on X this week.

Earlier this month, pseudonymous analyst Plan B, creator of the Stock-to-Flow family of BTC price models, foresaw the main FOMO wave hitting in early 2025

Trump has vowed to make the US "the crypto capital of the planet,

 {Donald Trump}

Bitcoin has pushed to a new record, reaching an all-time high of over $89,000 on Tuesday, as optimism around favourable regulatory changes and growing institutional interest fuel the surge.

 The recent rally in Bitcoin, now nearing $90,000, comes on the back of Donald Trump's pro-crypto stance following in recent election victory in the US.

Trump has vowed to make the US "the crypto capital of the planet," promising supportive policies, including the establishment of a national Bitcoin reserve.

 These pledges have boosted investor confidence, with analysts eyeing Bitcoin's next major target of $100,000

Bitcoin soared to a new record high, crossing the $81,000 mark on Monday. This rally is fuelled by the potential of a favourable regulatory environment following Donald Trump's recent election victory in the US With this sharp rise, Bitcoin was trading at $81,119.61 as of 11 AM, giving it a market cap of $1.6 trillion.

Trump's pro-crypto stance during his campaign has been a major driver of this surge. He promised to make the US the 'crypto capital of the planet and proposed policies such as building a national Bitcoin reserve and appointing regulators to support the industry. These promises have sparked optimism among investors, with expectations that his administration could introduce crypto-friendly regulations.

Sumit Gupta, co-founder of CoinDCX

Sees Bitcoin's $81,000 milestone and $1.5 trillion market cap as a sign of renewed optimism.

"Bitcoin's record-breaking surge is backed by strong fundamentals and signals from the recent US election that suggest pro- crypto policies may be on the horizon. This shows Bitcoin's strength as a hedge against regular market ups and downs" he said

Gupta also highlighted how growing interest from large institutions and the introduction of Bitcoin ETFs (exchange-traded funds) have played a key role in Bitcoin's rise.

One of the significant factors behind Bitcoin's rising value is the growing interest from institutional investors. The approval of Bitcoin ETFs in the US earlier this year has made it easier for these institutions to invest in Bitcoin legally, which has increased demand.

 ETFs provide a regulated way for both Individual and institutional investors to gain exposure to bitcoin without needing to directly buy or manage the cryptocurrency.

Edul Patel, CEO of Mudrex, believes Bitcoin's all-time high is a result of several factors.

"Firstly, the approval of Bitcoin spot ETFs by the US SEC has been a game-changer, making it simpler for institutions to enter the market.

 Secondly, rate cuts in major regions, including the US, EU, and China, have led to higher cash flow, with more people willing to invest in alternatives like cryptocurrencies," he explained.