Bitcoin Surges Past $81,000 Amidst Anticipation of Trump’s Crypto-Friendly Policies and Strong ETF Inflows

Matrixport recently shared some interesting analysis about Bitcoin. Over the past week, Bitcoin's price jumped by $12,546, crossing the $81,000 mark. That’s an impressive 18.8% increase. While Bitcoin has seen higher percentage gains before, this dollar rally is quite notable.

The firm believes this bullish momentum could continue. Why? Many expect that Donald Trump will adopt a more cryptocurrency-friendly stance once he takes office on January 20th. So, the market has a few weeks to keep this positive trend going.

Michaël van de Poppe, the CIO and Founder of MN Consultancy, pointed out that there are large futures positions open. He anticipates a potential market flush in the coming week before Bitcoin picks up steam again. These flushes can actually present great opportunities for traders.

After the recent U.S. elections, the broader cryptocurrency market also showed a positive movement. Bitcoin hit a new all-time high (ATH) at $82,136, and the altcoin market followed suit with gains.

As of now, Bitcoin is trading at $82,060, reflecting a 3.41% increase in the last 24 hours. Its intraday low and high were $78,790 and $82,136, respectively. Currently, Bitcoin’s market capitalization is at $1.62 trillion, with its market dominance rising by 0.71% to 58.30%. This price movement corresponds with $1.6 billion in inflows into spot Bitcoin exchange-traded funds (ETFs) over the past week, according to SoSoValue data.

Additionally, the global cryptocurrency market capitalization increased by 3.94% in the last 24 hours, reaching $2.77 trillion. The total market volume surged by 80.44%, hitting $235.86 billion today, as reported by CoinMarketCap.