- Bitcoin is targeting $180,000 as its price and regulatory landscape shift after the U.S. election.
- Bitcoin dominance has reached 59%, driven by pro-crypto policies and increasing institutional interest.
- Mining activity and crypto equities are surging, with equities rising 47% and outpacing Bitcoin’s gains.
Bitcoin’s price pattern is growing as the market enters a stage of the bull cycle, with a predicted price target of $180,000 per Bitcoin (BTC). Current political and legal changes, notably the outcome of the U.S. presidential election, might be creating fresh investor interest and impacting the crypto market.
Bitcoin dominance has climbed to 59%, its highest level since March 2021. Institutional investment is also increasing, echoing patterns observed in previous bull cycles and paving the way for significant market activity.
Following the U.S. election, Bitcoin surged to an all-time high of $89,444, fueled by pro-crypto promises from the Trump administration. Polymarket data indicates that the market reacted positively to Trump’s victory, with Bitcoin climbing to $75,000 on election night.
The president-elect’s campaign pledges include reducing regulatory barriers, revising crypto legislation such as FIT21, and enabling state-chartered banks to issue stablecoins without Federal Reserve approval. Market analysts predict these policies will foster a crypto-friendly environment, boosting investor confidence.
Bitcoin’s dominance underscores its rising influence within the crypto market, reflecting regulatory clarity and strong investor demand. However, analysts also anticipate growth in decentralized finance (DeFi) and altcoins under the Trump administration, signaling a potential for diversified market expansion.
Mining Sector and Institutional Adoption Surge
Bitcoin’s mining difficulty has increased to 102 terahashes, highlighting a more secure network and growing competition among miners. November 18 saw a notable spike, with miners transferring $181 million worth of Bitcoin to exchanges. While such movements often signal market peaks, this activity aligns with operational growth rather than overvaluation.
Read also: Bitcoin’s Bull Market Fuels Altseason Optimism: Here Are the Top Coins to Watch
The market capitalization of crypto-related equities outpaced Bitcoin, rising 47% month-over-month. Companies like MicroStrategy and Coinbase have benefited significantly from Bitcoin’s rally, demonstrating the broader market’s bullish sentiment.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
