Bitcoin hits record high, rising for seven weeks on Trump’s crypto

On Monday during the early Asian trading session, Bitcoin's price rose by 1%, reaching $103,909, successfully surpassing the previous high of $103,800 set on December 5, continuing its recent strong performance.

As of the end of last week, Bitcoin had risen for seven consecutive weeks, marking the longest run of gains since 2021, demonstrating the market's strong enthusiasm and ongoing confidence in this largest digital asset.

Trump's Policy Expectations Boost the Market
A critical factor driving Bitcoin's recent strong gains is U.S. President-elect Donald Trump's supportive stance on cryptocurrencies. Trump has expressed plans to reverse the Biden administration's regulatory restrictions on the digital asset industry, creating a more favorable regulatory environment. He also supports the idea of national Bitcoin reserves, further bolstering market confidence in the future development of cryptocurrencies.

Trump's position is in sharp contrast with the Biden administration. During Biden's term, the U.S. adopted stricter regulatory policies on the cryptocurrency industry, leading to a temporary downturn in market sentiment. Trump's anticipated crypto-friendly policies are seen as a significant boon for the industry, reviving investor sentiment.

Market Outlook and Risk Assessment
Market analysts indicate that Bitcoin's robust rally is not only influenced by policy expectations but is also closely related to the macroeconomic environment, increased market liquidity, and heightened risk-averse sentiment.

However, despite Bitcoin's seven-week rally, market volatility risks persist, and investors should cautiously navigate potential short-term corrections. In the future, the cryptocurrency market's performance will depend on the specifics of Trump administration policies and further developments from U.S. regulatory bodies.

Bitcoin's breakthrough surge not only solidifies its status as "digital gold" but also injects new vitality into the cryptocurrency market. Whether the upward trend will continue depends on global macroeconomic changes and greater clarity on policies.

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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