Bitcoin has returned to near its historical high point, highlighting the increasing acceptance of the digital assets industry in the USA under the leadership of crypto supporter Trump.

Previously, market news stated $Trump Media & Technology (DJT.US)$ currently in negotiations to acquire a digital asset platform $Bakkt Holdings (BKKT.US)$ triggering a surge in the stock prices of both companies.

Other developments include Nasdaq's plan to list options for the iShares Bitcoin Trust worth $43 billion USD at the earliest on Tuesday, and Goldman Sachs' push to spin off its digital asset platform, all signs of cryptocurrencies and their underlying blockchain technology penetrating the financial system.

$Bitcoin (BTC.CC)$ On Monday, it soared to $92,606 in the USA, about $2,400 lower than the record low set last week. Since Trump won the election on November 5, this largest digital asset has risen by 36%. Trump's campaign agenda includes making the USA the world's crypto capital.

A large amount of inflow.

Chris Weston, research director at Pepperstone Group, wrote in a report: "The cryptocurrency market is active again," and added that Trump's media move on Bakkt is "another piece of positive news to boost market sentiment."

Trump promised to establish a favorable regulatory framework for digital assets in the usa and set up a global strategy for Bitcoin reserves. However, it remains uncertain when his promises will be realized and the feasibility of Bitcoin reserves.

These issues have sparked a debate on whether Bitcoin and cryptocurrencies can continue to rise. According to data from the Deribit exchange, the highest concentration of open positions in the options market is betting on a Bitcoin call option to reach $0.1 million.

Fairlead Strategies LLC technical analyst Katie Stockton stated that some signals from chart patterns indicate that bitcoin may rise to around $98,100 in the coming weeks. IG Australia Pty market analyst Tony Sycamore expressed a preference to buy when bitcoin pulls back to $80,000.

ETF options.

Blackrock's iShares bitcoin trust is the largest global bitcoin investment portfolio. The fund's options may attract new investments into the crypto ecosystem by expanding trading possibilities. iShares products are one of 12 spot bitcoin exchange-traded funds in the US, which attracted approximately $4 billion in net inflows in the period following the election day.

The current optimism in the crypto industry has faded people's memory of the painful market crash in 2022, which exposed fraud and other risky behaviors, leading to platform crashes including SBF's FTX exchange.

On Monday, the woman who calls herself the 'Wall Street Crocodile' and 'Razzlekhan' in rap videos was sentenced to 18 months in prison for helping her hacker husband launder stolen cryptocurrencies from the Bitfinex exchange. This twisted history has been exposed as the stolen bitcoins are currently worth billions of dollars.

Trump was once skeptical of cryptos, but he changed his strategy after digital asset companies invested heavily to protect their interests during the campaign. The elected president now has his own crypto project. Bloomberg Intelligence senior government analyst Nathan Dean wrote in a report that the likelihood of comprehensive crypto legislation passing in the USA by 2025 has risen to about 70%.

Editor/Rocky