On December 17 (Tuesday), the price of Bitcoin soared, breaking through $108,000, once again setting a new historical high before falling back. Just last week, this figure dropped below $95,000, but within the next few days, it showed strong momentum. Currently, although Bitcoin is experiencing a severe correction, as we enter the second half of December, which traditionally performs strongly, the market anticipates that Bitcoin may soon reach a new high, aiming for the $0.12 million mark.

Set the longest seven-week consecutive rise record since 2021.

Bitcoin's performance this year has been remarkable, continuously breaking records. At the beginning of the year, the USA SEC approved 11 spot Bitcoin ETFs, injecting new vitality into the Bitcoin market, causing Bitcoin's price to soar to an all-time high in March. By the end of the year, with the support of cryptocurrencies, Trump regained the USA presidency, leading to another strong surge in Bitcoin, which first broke the $100,000 mark. This milestone achievement not only reflects the enthusiasm of the market but also signifies Bitcoin's increasingly stable position in the global financial system.

Since the USA election on November 5, the price of Bitcoin has soared over 57% and set the longest seven-week consecutive rise record since 2021. During this period, the USA ETFs that invest directly in Bitcoin attracted nearly $13 billion in net Inflow, driving the total assets of related funds to $113.7 billion, highlighting Institutions' strong interest in the crypto market.

Trump reaffirms Bitcoin's strategic reserve, igniting market enthusiasm.

Last week, Trump stated in a media interview, "We are going to do great things in the crypto field"; he pointed out that more and more countries are embracing cryptocurrencies, but "we want to be the leaders." When asked if he plans to establish a cryptocurrency reserve similar to the oil reserve, Trump gave a positive answer.

Beyond the federal level, USA states are also beginning to explore Digital Currency reserve programs. A Texas lawmaker submitted a legislative proposal last week to establish a state-level Bitcoin strategic reserve. Texas ranks eighth globally in GDP, comparable to Canada, and as the second-largest economy in the USA, this initiative could have a demonstration effect on other states. This Tuesday, a legislator in Ohio proposed a bill to establish a Bitcoin reserve within the state treasury, marking the third such state in the USA within just a month.

The improved policy environment has led traditional Financial Institutions to change their attitudes toward cryptocurrencies. Last Friday, NASDAQ announced that the Bitcoin "whale" company MicroStrategy would be included in the NASDAQ 100 Index, enhancing the attractiveness of the stock and helping the company raise more equity to purchase more Bitcoin.

The market reacted enthusiastically to Trump's supportive stance on Cryptos and his clear plan to include Bitcoin in the Global Strategy reserves, and this policy signal greatly boosted market confidence.

Will Bitcoin reach 0.12 million USD before Trump takes office.

Bitcoin's strong performance is just one step away from 0.11 million USD. With the arrival of the second half of December, which is traditionally a strong performing period, Bitcoin is expected to soon break through 0.12 million USD and set a new historical record.

December is usually a historically bullish month for Bitcoin, commonly known as the 'Santa Claus Rally.' Data from the past eight years shows that since 2015, Bitcoin has ended December with a rise more than five times, with the minimum increase being 12%. In the past two halving cycles, during mid to late December, Bitcoin rose about 26% (2016) and 50% (2020) respectively. If this year's trend is similar, Bitcoin is expected to reach highs of 0.13 million to 0.15 million USD.

In addition, the nearly 'full team crypto trading' stance of Trump's cabinet gives the market confidence in the future implementation of crypto-friendly policies. Factors such as the benefits of the U.S. election and the prospect of the USA treating Bitcoin as an Asset in the Global Strategy reserves may lead to an emotional peak in the market before Trump officially takes office, driving Bitcoin straight towards the 0.12 million USD mark.

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