cookchiang

@cookchiang

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In the near term, Bitcoin will remain pressured by ongoing trade tensions between the US and China, according to Vugar Usi Zade, chief operating officer at Bitget.

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Bitcoin has lacked upside momentum, trading under the $100,000 psychological mark for over nine days since Feb. 7, Cointelegraph Markets Pro data shows.

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Up to 20% of Gen Z and Alpha are open to receiving pensions in cryptocurrency, according to a Jan. 16 Bitget Research report shared with Cointelegraph.

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Beyond just financial institutions, cryptocurrencies are also gaining traction among retirement funds, showcasing a shift in perception among younger generations.

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The University of Austin will aim for a minimum five-year Bitcoin holding strategy, according to Chad Thevenot, senior vice president for advancement at the University of Austin, who said:

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Lummis, a vocal Bitcoin advocate who introduced the Bitcoin Strategic Reserve bill to the US Senate in July 2024, praised Wyoming representative Jacob Wasserburger for introducing the legislation to “allow permanent funds to diversify into Bitcoin.”

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Wyoming, in the United States, has introduced a bill to create a Strategic Bitcoin Reserve, joining several other states nationwide ahead of Donald Trump’s presidential inauguration on Jan. 20.

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There are several court cases between the SEC and Commodity Futures Trading Commission (CFTC) against crypto firms that are expected to move forward in 2025.

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Nevertheless, the US election results have overwhelmingly provided Bitcoin with unprecedented and extremely bullish conditions considering the backing of a US President who seems to be following through with his pro-crypto promises, among them to never sell Bitcoin from the US Bitcoin stockpile.

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For Chris Burniske, partner at venture capital firm Placeholder and former blockchain products lead at ARK Invest, the Bitcoin supercycle is a myth.

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The planned legislation also coincides with a rise in decentralized finance (DeFi) in Eastern Europe, which received over $499 billion worth of crypto between July 2023 and June 2024, according to Chainalysis.

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During the ongoing war between Ukraine and Russia, legalizing cryptocurrencies could offer Ukrainians a regulated means to access financial support, protect their assets from inflation, and facilitate cross-border transactions without relying on traditional banking systems, which may face disruptions during wartime. Cryptocurrencies have already been used for humanitarian aid, donations and financial stability during crises.

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Declining Bitcoin dominance suggests that investor are taking profit from their BTC positions and investing part of these funds into altcoins.

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In crypto slang, altseason, short for altcoin season, refers to the collective rally of cryptocurrencies besides BTC, which tend to benefit from Bitcoin’s declining dominance.

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Bitcoin dominance has printed a significant signal for altcoin investors, that could see smaller cryptocurrencies rally during December and attract more investments ahead of Jan. 20.

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All it needed to do, a chart showed, was repeat its performance from between October 2023 and March 2024, during which it gained 186%.

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Among them this week was popular trader Dave The Wave, who on Nov. 30 suggested that BTC/USD actually needed to put in little effort to achieve $150,000.

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As Cointelegraph reported, the business intelligence firm saw flash stock volatility after it purchased BTC worth more than $5 billion.

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On X, popular account The Bitcoin Therapist described Lee’s full remarks on MicroStrategy’s Bitcoin reserve as “one of the most clear and concise explanations about what is going with MicroStrategy and Bitcoin.”

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“It’s almost like taking a playbook from MicroStrategy because MicroStrategy has proven that using Bitcoin as a balance-sheet asset has really created a lot of value for MicroStrategy shareholders,” he reasoned.

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