According to the Zhitong Finance APP, as 2024 comes to an end, the surge in Bitcoin seems to be slowing down after Donald Trump was elected president in the USA in early November. As of the time of writing, the price of Bitcoin is about $93,182, down approximately $15,000 from its historical high in mid-December. Other smaller tokens, such as Ether and Dogecoin, have also failed to attract more attention.

Trump's cryptocurrency-friendly stance, including support for the idea of establishing a national Bitcoin reserve, once buoyed the digital asset market. However, as the expectation for interest rate cuts by the Federal Reserve weakened, market speculative enthusiasm also cooled. It is expected that after Trump takes office on January 20, regulatory policies in the USA concerning Cryptos will become clearer, contrasting with the Biden administration's strict crackdown on the Industry.

Chris Weston, the research director of Pepperstone Group, pointed out that part of the reason for Bitcoin's rise after the election is the substantial Outflow from Exchange-traded Funds (ETF).

In addition, the software manufacturer MicroStrategy Inc., which has transformed into a Bitcoin accumulator, has been actively buying Bitcoin over the past few weeks, and the market is watching to see if the company will announce further purchases on Monday.

This year, Bitcoin's increase is around 120%, outpacing traditional investments like Global Equity and Gold, and maintaining strong momentum after recovering and doubling in 2023 from a bear market.