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Bitcoin reached a new all-time high of $97,900 this morning, following last night’s rally. The surge was driven by growing optimism for crypto, fuelled by headlines emphasizing Bitcoin’s increasing importance in the corporate world and rising capital inflows into the asset.

MicroStrategy is expected to raise $2.6 billion to purchase more Bitcoin, with MSTR surpassing a $100 billion market cap and topping US trading volume last night.

Several corporate treasuries are following the likes of MicroStrategy by adding Bitcoin to their reserves, with Acurx Pharmaceuticals reported to have purchased up to $1 million worth of Bitcoin.

There has been overwhelming buying of January calls as we approach the Trump inauguration rally.

What’s Next?

With BTC holding firmly above the 97k mark, it’s now closer than ever to that 100k milestone. Throughout the week, our desk observed aggressive demand in March and June Calls, signalling investors’ long-term bullish sentiment for next year.

BTC spot ETFs have extended their winning streak to three days, with a total of $1.84 billion in net inflows during that period. The BTC ETF has been the biggest driver of additional capital into Bitcoin this year, with US-based ETFs accounting for $29.4 billion in net flows.

As we continue to see strong demand for BTC alongside further easing of monetary policy by global central banks, BTC prices are likely to remain supported as we approach the end of the year.

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Disclosure: The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.