$Bitcoin (BTC.CC)$ Hitting a new all-time high, as of Tuesday morning at 05:30 Beijing time, bitcoin broke through $0.088 million per coin, rising over $7,500 or 9.5% in the day, with a total market value exceeding $1.72 trillion. This is the largest increase since the nearly 13% price rise in March 2023. The enthusiasm of US President Trump for cryptos injects vitality into the market.

According to The Washington Post, Trump is preparing for the U.S. government to take a more lenient stance on cryptocurrencies. He is identifying key candidates who are friendly to the crypto industry for crucial positions, while his senior advisors are seeking advice from crypto executives on potential changes in federal policies. Early discussions focus on a range of financial regulatory agencies, including the SEC.

According to five sources familiar with the matter, Trump's advisors are considering appointing current regulators, former federal officials, and financial industry executives to key leadership positions, many of whom have publicly expressed support for cryptocurrencies. They cautioned that the discussions are still in the early stages, and the list of candidates is subject to change.

Digital asset traders predict a more friendly regulatory environment. Since the election last week, bitcoin has surged by over 30%, hitting new all-time highs almost every day. Bullish sentiment has also boosted smaller tokens, including the popular Dogecoin promoted by Trump supporter and the world's richest man, Elon Musk.$Dogecoin (DOGE.CC)$(Dogecoin).

Chris Newhouse, Director of Research at Cumberland Labs, stated: 'Bitcoin continues to break record highs, defying people's expectations. The market seems to finally realize that we are entering an undeniable bull market for the next few years.'

Stock prices of companies related to cryptos have also surged significantly. On Monday, the bitcoin agency$MicroStrategy (MSTR.US)$rose by 26%, and the USA crypto exchange$Coinbase (COIN.US)$surged by 20%. Cryptocurrency miners$MARA Holdings (MARA.US)$And.$Riot Platforms (RIOT.US)$Climbed 29% and 17% respectively.

Bitcoin options traders have set their sights on the $0.1 million milestone price. According to data from the crypto options exchange Deribit, investors are betting that Bitcoin will break this milestone by the end of the year.

"After the US election, we have witnessed some significant changes," said Nick Forster, the founder of Derive, a decentralized finance protocol used for options trading. He added that traders made significant bets on the $0.1 million call options expiring on December 27, with the value of the trade increasing by 30%, becoming one of the largest nominal trades in recent weeks and also one of the most profitable.

Deribit data shows that as of Monday morning London time, there are 9,635 open contracts on Bitcoin (worth about $0.78 billion) betting that Bitcoin will reach $0.1 million by December 27. This is the largest among all trades on that expiration date. Deribit believes the chances of this trade being successful are 18.6%.

Futures trading at the CME Group Inc surged significantly, with open interest in bitcoin futures rising by 12% since November 5.$Ethereum (ETH.CC)$Open interest in futures increased by 29%, reaching a historical high.

While many investors seem increasingly bullish, there are still some cautious investors.

According to data from CryptoQuant, since Trump's victory, Bitcoin's funding rate (the premium paid by perpetual futures long positions) has increased but is still far below the peak in 2024. Some observers warn that Trump's focus on cryptocurrencies post-election remains uncertain due to conflicts in Russia-Ukraine and the Middle East, as well as trade tensions.

Le Shi, Managing Director of Hong Kong at market intelligence company Auros, said, "During the campaign, Trump made a series of commitments, and his level of seriousness remains to be seen. As we start to get data points in either direction, traders will place larger bets on whether the remaining commitments will be fulfilled."

During his campaign, Trump vowed to make the United States the center of the digital asset industry, including establishing a Bitcoin strategic reserve and appointing regulatory agencies interested in digital assets. However, enthusiastic traders are currently paying little attention to issues such as the potential speed of implementation or the feasibility of a strategic reserve.

Richard Galvin, founder of DACM, an investment firm focused on cryptos, said: "We believe that a large portion of institutional investors reduced their risks before the election and are now re-entering the market after Trump's victory, causing significant buying pressure - this situation may continue for some time."

Editor/Rocky