Today, $Bitcoin (BTC.CC)$ Continuing to surge, successfully breaking through the $99,000 mark, the $0.1 million mark is within reach.

It is noteworthy that bitcoin has accumulated an increase of nearly 5 times in the past two years, and with the continuous good news in the crypto circle, Wall Street generally expects it to reach 0.2 million USD by the end of 2025.

Is the $0.1 million mark just around the corner? Bitcoin continues to break through several milestones.

Since the U.S. election on November 5, bitcoin's price has crazily broken through 25 integer levels (measured in $1,000).

So far this year, bitcoin's price has increased by over 130%. In fact, the cyclical nature of bitcoin is also very evident; looking back at history, bitcoin generally follows the rule of 'three years of rise, one year of fall,' that is, one year before the halving, the year of halving, and one year after the halving sees rises, followed by a year of decline.

In this cycle, this trend has become even more apparent, as bitcoin achieved a 157% increase in 2023, the year before the halving, while this year (the year of halving) has so far seen a cumulative increase of 130%.

Caroline Mauron, co-founder of crypto derivatives liquidity provider Orbit Markets, stated: "The significant psychological barrier of $100,000 is now within reach." She added that bets in the bitcoin options market indicate "the market expects prices to rise rapidly."

According to Polymarket, the market currently estimates a 72% probability of a breakthrough of the $0.1 million mark today.

What bullish factors are driving this?

Undoubtedly, the biggest driver behind this round of crypto's rise is Trump's election victory.

According to media reports, the team of president-elect Trump is discussing with the digital asset industry the possibility of establishing a new position in the White House specifically responsible for cryptocurrency policy. This will be the first position in the White House dedicated to the crypto industry, highlighting the prominent status of the crypto industry in the Trump administration.

For an industry that has moved from the margins to the mainstream over the years, establishing a dedicated cryptocurrency position in the White House will be another significant victory for the industry.

In addition, Gary Gensler, the chairman of the Securities and Exchange Commission, announced on Thursday that he plans to step down on January 20, 2025 (the day president-elect Trump is inaugurated), a news that has delighted crypto bulls and directly pushed bitcoin closer to the $0.1 million mark.

Gensler is a well-known crypto skeptic. During his tenure, he targeted the crypto industry, suing companies like Coinbase, Kraken, and Binance, alleging their failure to register with the SEC violated regulations.

U.S. President-elect Trump has repeatedly expressed support for the crypto industry, including pledging to establish a bitcoin reserve in the USA. He stated that he would dismiss Gensler on his 'first day' in office.

Notably, as bitcoin continues to reach new highs and approaches the $0.1 million mark, the asset management scale (AUM) of the US exchange-traded fund (ETF) directly investing in bitcoin has surpassed the $100 billion mark for the first time this Thursday.

Undoubtedly, these 12 Bitcoin ETFs have reached the milestone of a trillion-dollar asset management scale within just 10 months of their launch in January this year, destined to become one of the most successful fund categories ever issued.

According to data from Bitcoin Archive, this asset management size is expected to exceed that of the gold ETF in the US market. As of November 21, the assets under management of US gold ETFs were approximately $120 billion.

Besides bitcoin, which other assets can participate in the 'crypto circle carnival'?

Huayuan Securities points out that the main upward wave of the crypto bull market has already arrived. Mining companies that benefit from the crypto market bull run, have solid balance sheets, and comprehensive hash power growth plans are expected to welcome a new market cycle. It is also recommended to pay attention to exchange symbols and hoarding symbols that benefit from the crypto bull market.

Futu has organized relevant concept stocks and etfs in the hk and usa stock markets for mooers' reference. This includes:

Holding stocks $MicroStrategy (MSTR.US)$ 、 $MEITU (01357.HK)$ 、 $BOYAA (00434.HK)$ ；

Cryptocurrency exchange $Coinbase (COIN.US)$ 、 $OSL GROUP (00863.HK)$ ；

Mining stocks $MARA Holdings (MARA.US)$ 、 $CleanSpark (CLSK.US)$ 、 $Riot Platforms (RIOT.US)$ Wait;

The Hong Kong stock market still has a large number of etfs worth paying attention to, including $ChinaAMC Bitcoin ETF (03042.HK)$ 、 $Harvest Bitcoin Spot ETF (03439.HK)$ 、 $Bosera HashKey Bitcoin ETF (03008.HK)$ 、 $Samsung Bitcoin Futures Active ETF (03135.HK)$ 、 $CSOP Bitcoin Futures ETF (03066.HK)$ Wait, it can also be hedged through $CSOP Bitcoin Futures Daily (-1x) Inverse Product (07376.HK)$ hedge.

However, it should be noted that Citron Research posted on the social platform X, stating that they remain bullish on bitcoin, but have hedged through short positions on microstrategy.

The crypto world is constantly celebrating! Mooers can click to see more related investment opportunities:

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Editor/Somer