Bitcoin

Resistance

Optimism

Billion

Higher

<a href="https://thebitjournal.com/bitcoin-focused-microstrategy-joins-nasdaq-100-what-does-it-mean/">Bitcoin (BTC)</a> reached $104,500 on Monday, up 0.10%, with institutional interest supporting investors’ optimism. The asset’s appeal continues to grow, with MicroStrategy signalling the intention for further Bitcoin purchases, possibly for prices beyond $100,000. U.S. reserve policy speculation pushed expectations of a large long-term price rally even higher, bringing further optimism. 
<a href="https://www.qubetics.com/?utm_source=TBJ&amp;utm_medium=Bitcoin+Hits+%24106K+as+Institutional+Demand+and+Trump+Policies+Drive+Optimism" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="wp-image-67567 size-full aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3.jpg" alt="Donald Trump" width="728" height="90" title="Bitcoin Hits Above $106K All-Time High After Institutional Demand and Trump Policies Drive Optimism 53" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3.jpg 728w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3-300x37.jpg 300w" sizes="(max-width: 728px) 100vw, 728px"></a> 
<h1 id="b-microstrategy-expands-bitcoin-treasury-to-50-billion-b">MicroStrategy Expands Bitcoin Treasury to $50 Billion</h1> 
MicroStrategy also followed its aggressive BTC acquisition strategy and hinted at the possibility of a new purchase that would push the company’s treasury size into a new league. Over the past three weeks, the <a href="https://x.com/Ashcryptoreal/status/1868305543279829337" rel="nofollow" target="_blank">company has added</a> $7.2 billion worth of Bitcoin, with an average acquisition cost approaching $98k. If confirmed, MicroStrategy will have 423,650 BTC in its hands, which is worth about $50 billion, making it another one of the largest institutional investors. 
The acquisition comes from increasing confidence in BTC as a strategic asset, a trend we see worldwide with institutional players.<a href="https://thebitjournal.com/2-1-b-etf-microstrategys-nasdaq-100-unveiled/"> MicroStrategy</a>‘s sustained BTC buying momentum indicates the firm’s strong confidence in the cryptocurrency’s long-term potential as a hedge against a floundering global economy. Institutional buying pressure and renewed interest in digital assets are what market analysts point to for the price rallying above $106,000. 
<h2 id="b-experts-predict-800k-btc-under-trump-s-policies-b">Experts Predict $800K BTC Under Trump’s Policies</h2> 
The bullish momentum was fueled by speculation about President <a href="https://x.com/Ashcryptoreal/status/1868179236529549660" rel="nofollow" target="_blank">Donald Trump</a>’s policies on the crypto industry. According to reports, the 2024 BTC Act may require Trump’s administration to classify Bitcoin as a U.S. reserve asset. Such a policy would require yearly purchases of 200,000 BTC for five years, removing a significant portion of the allocated supply from circulations. 
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<img loading="lazy" decoding="async" class="aligncenter wp-image-76716 size-full" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Bitcoin-800K.webp" alt="Bitcoin Hits $106K as Institutional Demand and Trump Policies Drive Optimism" width="1792" height="1024" title="Bitcoin Hits Above $106K All-Time High After Institutional Demand and Trump Policies Drive Optimism 54" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Bitcoin-800K.webp 1792w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Bitcoin-800K-300x171.webp 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Bitcoin-800K-1024x585.webp 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Bitcoin-800K-768x439.webp 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Bitcoin-800K-1536x878.webp 1536w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Bitcoin-800K-860x491.webp 860w" sizes="(max-width: 1792px) 100vw, 1792px"> 
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Experts say this could push BTC’s price to $800,000 by 2025. On the demand side, institutional demand provides some support for BTC due to its supply constraints but will create additional demand for it as a reserve asset. Trump’s crypto-friendly policies and global de–dollarisation trends are expected to embellish Bitcoin’s place in the financial ecosystem. 
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<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Perianne Boring Predicts Trump’s 2025 Economic Policies Will Drive Bitcoin Price to $800K – Bitcoin Magazine 
 In a bold prediction on Fox Business, Perianne Boring, CEO of the Digital Chamber, asserted that President-elect Donald Trump’s economic policies could position the… <a href="https://t.co/FvdX6QGBU0" rel="nofollow" target="_blank">pic.twitter.com/FvdX6QGBU0</a> 
 — Diogo Marques (@Breathe2Prosper) <a href="https://twitter.com/Breathe2Prosper/status/1868277648725610549?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">December 15, 2024</a>
</blockquote> 
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Investors and analysts view the developments as a significant shift in BTC’s role in hedging fiat currency risk. Prices have spiked to fresh highs in anticipation of strategic reserves and capped market dynamics, with the herd sentiment still bullish. Investors have become increasingly optimistic regarding Bitcoin, and the price has increased 50% since the U.S. election. 
<h2 id="b-key-resistance-levels-push-btc-price-higher-b">Key Resistance Levels Push BTC Price Higher</h2> 
BTC’s immediate resistance is $106,500, with higher targets at $108,000 and $110,000. To the downside, key support levels are found at $103,648, $101,675, and $100,691, coinciding with the 50-day exponential moving average. The Relative Strength Index (RSI)—at 72—is in overbought territory, yet bullish momentum continues. 
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<img decoding="async" class="aligncenter" src="https://cimg.co/wp-content/uploads/2024/12/16052759/image-22-1024x577.png" alt="Bitcoin Hits Above $106K All-Time High After Institutional Demand and Trump Policies Drive Optimism = The Bit Journal" title="Bitcoin Hits Above $106K All-Time High After Institutional Demand and Trump Policies Drive Optimism 55"> 
The broader crypto market also reflected BTC’s surge, with Ether climbing 3% to $4,014. The upward trend is supported by market dynamics driven by institutional accumulation and strategic policy speculations. However, analysts are still optimistic about Bitcoin’s future, arguing that maintained demand and limited supply will be the reasons for the ongoing surge. 
With $106,000, BTC’s rally represents institutional confidence, a policy’s tenuous grasp on expectations, and bullish technical indicators. MicroStrategy is building its position, and market participants await potential U.S. reserve policies that would make BTC a financial asset. Bitcoin is still the focus of the shift in the global financial landscape, and it is expected to have a possible price target of $800,000. 
Keep following<a href="https://thebitjournal.com/"> The Bit Journal</a> for latest crypto updates and developments. Follow us on <a href="https://twitter.com/Thebitjournal_" rel="nofollow noopener" target="_blank">Twitter</a> and <a href="https://www.linkedin.com/company/the-bit-journal/" rel="nofollow noopener" target="_blank">LinkedIn</a> and join our <a href="https://t.me/thebitjournal" rel="nofollow" target="_blank">Telegram</a> channel to be instantly informed about breaking news! 
<h2 id="b-faqs-b">FAQS</h2> 
<ul> 
 <li>What has driven Bitcoin’s recent surge past $104,500?</li> 
</ul> 
&nbsp;Bitcoin’s rise is driven by institutional interest, MicroStrategy’s aggressive purchases, and speculation about U.S. reserve policy changes. 
<ul> 
 <li>How could Trump’s policies impact BTC’s price?</li> 
</ul> 
Experts predict Trump’s proposed 2024 Bitcoin Act could push BTC’s price to $800,000 by 2025 through strategic reserves. 
<ul> 
 <li>What are the key resistance and support levels for BTC?</li> 
</ul> 
BTC’s resistance levels are $106,500, $108,000, and $110,000, with support at $103,648, $101,675, and $100,691.

Bitcoin Hits Above $106K All-Time High After Institutional Demand and Trump Policies Drive Optimism

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The Bit Journal

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