stephenyun62

@stephenyun62

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Others like Coinbase chief legal officer Paul Grewal seemed to support the implications on the SEC for the US Supreme Court overturning the Chevron doctrine in 2024. The June opinion removed the practice of courts generally deferring to agencies’ interpretations of laws and regulations and required them to “exercise their independent judgment,” suggesting that judges could modify their approach to SEC cases involving digital assets.

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According to local media reports, prosecutors are seeking a six-month prison sentence for National Assembly member Kim Nam-kuk, who allegedly reported 1.2 billion Korean won worth of digital assets in 2021, despite owning 9.9 billion worth of crypto. He is also alleged to have concealed roughly 990 million won worth of digital assets in 2022.

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A lawmaker in South Korea could face six months in prison for allegedly refusing to report $4 million in crypto sales.

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However, Super Testnet, a Bitcoin developer behind BitVM, argues that any change to Bitcoin’s supply cap would effectively mean the new token isn’t the “official” Bitcoin.

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Investor sentiment in SOL was further boosted by a target price of $750 set by Bitwise, a cryptocurrency exchange-traded fund (ETF) provider. The firm cited growing institutional investment, an improved regulatory environment, and the arrival of "serious" projects on the network, which could further enhance its dominance in memecoins.

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After peaking at 6% per month on Dec. 5—signaling extreme optimism—the funding rate sharply declined on Dec. 9, following the forced liquidation of leveraged long positions. The current market conditions appear healthier, particularly considering that the total SOL futures open interest now stands at $5.2 billion.

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It is “highly probable,” he told SkyBridge Capital CEO Anthony Scaramucci this week, that BTC/USD will hit a quarter of a million dollars per coin next year — or more.

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Crypto is not short of six-figure BTC price targets, and Fundstrat’s Lee, known for years as a Bitcoin bull, remains optimistic on 2025.

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Speaking to YouTube channel Wealthion on Nov. 29, Tom Lee, co-founder and head of research at financial research firm Fundstrat Global Advisors, gave a 12-month deadline for $250,000 Bitcoin.

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Bitcoin could hit $1 million if the Trump administration approves a potential strategic Bitcoin reserve, according to Adam Back, co-founder and CEO of Blockstream, the inventor of Hashcash and one of the most notable cryptographers in the industry.

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Beyond the growing money supply, Bitcoin price received a substantial boost from Donald Trump’s victory in the Nov. 5 US presidential election.

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Based on the above weekly chart, Bitcoin has “fully transitioned into the parabolic upside phase of the cycle,” wrote crypto analyst Rekt Capital in a Nov. 29 X post.

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Based on historical data, Bitcoin could be set to absorb up to 10% of the newly printed money supply. This may attract $2 trillion worth of new investment into Bitcoin during 2025, based on a predicted $20 trillion liquidity increase.

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The potential correction below $70,000 will only be temporary due to what Pal called an “interim peak in liquidity,” which he expects to continue rising into the third quarter of 2025.

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Provided that Bitcoin price follows the liquidity index, Bitcoin’s right-hand side (RHS), which marks the lowest bid price someone is willing to sell the currency for, will peak near $110,000 in Jan. 2025 before falling below $70,000 by Feb. 2025.

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Bitcoin has entered the “parabolic phase” of the market cycle, as analysts point at a local top of above $110,000 before the end of January.

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However, the growing global money supply and a potential price reversal in the US Dollar Index (DXY) will set up Bitcoin’s 2025 rally, according to Jamie Coutts, chief crypto analyst at Real Vision, who wrote in a Nov. 27 X post:

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Bitcoin BTC$94,747 was just $200 or 0.2% short from crossing the $100,000 all-time high on Nov. 22 before experiencing an over 7% correction — which could see Bitcoin retrace up to 30%, according to some analysts.

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These possible changes have been well taken by market participants, who have seen the highest market dominance of BTC at 59%. A bill being worked out may permit state-chrtered banks to mint stablecoins without seeking prior approval from the Federal Reserve, putting the US in a very commanding position in the race to dominate financial innovation. Furthermore, proposals to deregulate the energy industry may favor crypto mining, which will place the US in a better position in the global race for blockchain.

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Bitcoin is trading at nearly $99,850 and is on the verge of the long-awaited $100,000 milestone. Similar to other bull runs, including the one witnessed after the elections in 2020, when the price of Bitcoin nearly doubled in a matter of a few months, some believe institutional interest coupled with friendly economic coditions and increased on-chain activity are the drivers of this phenomenal appreciation of the price of Bitcoin.

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