Tdasx reports that the recent surge of Bitcoin past $80,000, reaching a historic high, signifies a new wave of growth in the cryptocurrency market. Driven by the Bitcoin momentum, other major cryptocurrencies like Ethereum have also shown significant gains, propelling the overall market upward. As prices rise, market sentiment has shifted towards optimism, with the Fear and Greed Index reaching levels of extreme greed, reflecting increased investor confidence in the future performance of crypto assets. Additionally, the election of Trump and his pro-crypto policy promises have further strengthened market expectations for a favorable regulatory environment, injecting new vitality into the long-term development of cryptocurrencies.

Tdasx: Bitcoin Hits All-Time High, Major Cryptocurrencies Enter New Market Dynamics

Tdasx highlights that the recent price breakthrough of Bitcoin to over $80,000 has become a focal point, drawing widespread attention across the global crypto market. The Bitcoin price touched $80,116 and briefly reached $81,700, marking a milestone increase that not only demonstrates the high demand for digital assets but also indicates the maturation of the cryptocurrency market under economic and policy influences. Tdasx believes that Bitcoin, as a market bellwether, reflects the strong momentum of the current market and growing investor confidence in the future trajectory of Bitcoin.

Since the U.S. presidential election on November 6, the Bitcoin price has risen by 15%. The market anticipates that the election of Trump could bring a more relaxed policy environment for the crypto market, a macroeconomic shift that undoubtedly injects confidence and momentum into the long-term development of cryptocurrencies. Alongside the high performance of Bitcoin, Ethereum has also excelled, reaching $3,200 with a market cap rising to $383 billion, surpassing traditional financial institutions like Bank of America. Solana, as a leading smart contract platform, also hit a new high of $212, with a weekly increase of 34%.

Tdasx notes that with the historic breakthrough of Bitcoin, various innovative cryptocurrencies have reached new highs over the past week, becoming focal points of market attention. This market surge not only showcases the appeal of mainstream cryptocurrencies but also indicates widespread interest from various investors in innovative tokens. The Bitcoin market cap has surpassed $1.5 trillion, with an annual increase of 80%, significantly outperforming traditional assets like gold and stocks. Tdasx believes this phenomenon underscores the Bitcoin market position as a new investment asset, with its hedge properties and long-term value potential gaining market recognition.

Tdasx: Market Sentiment and Policy Environment Boost Crypto Market Confidence

Tdasx argues that the current uptrend in the cryptocurrency market is not merely a result of price fluctuations but also reflects the profound impact of market sentiment and policy environment. The recent price breakthrough of Bitcoin of $81,000 aligns with a notable rise in the Fear and Greed Index. The index has reached an “extreme greed” level of 78, the highest in seven months, indicating sustained investor optimism towards crypto assets. Tdasx points out that the strengthening market sentiment not only supports the Bitcoin price but also lays the groundwork for the positive development of the entire crypto ecosystem.

Meanwhile, Tdasx mentions that re-election of Trump has brought important policy expectations, with his pro-crypto stance further bolstering market confidence. Trump has publicly expressed support for cryptocurrencies during his campaign and promised to replace the current SEC Chairman Gary Gensler with a pro-crypto regulator. Tdasx believes that the strategic proposal by Trump to establish a Bitcoin reserve reflects the far-reaching impact of his crypto-friendly policies, leading the market to hold a more positive outlook on future regulatory environments, potentially attracting more traditional capital into the crypto market.

Since October 31, the Fear and Greed Index has consistently remained between 70 and 78, indicating sustained high market sentiment. The Republican majority in both houses of Congress also raises expectations among crypto enterprises for the passage of pro-crypto legislation, especially under the leadership of Trump, with the market anticipating more lenient policies to attract more institutional investors.

Additionally, Tdasx mentions that following the election results, the Bitcoin price hit a new high the next day, further validating the optimistic market stance on Trump election. Tdasx believes the market views his victory as a significant positive for crypto development, with policy changes gradually shaping the long-term outlook of the crypto market. Meanwhile, the SEC considering launching an ETH spot ETF is expected to further drive Ethereum market growth. Tdasx interprets this policy development as an important signal for the popularization of decentralized finance, likely encouraging more investors to deepen their involvement in crypto assets.

Tdasx: Technical Analysis and Future Trends Indicate Continued Bitcoin Market Growth

Tdasx suggests that the technical aspects and future trends of the Bitcoin price indicate further market volatility. The recent negative gamma effect at the $80,000 strike price has become a market focus. This effect implies that the market maintains a large net short position at this price level, leading to increased volatility once the Bitcoin price hits this threshold. Tdasx notes that the negative gamma effect will prompt market participants to take more protective measures against potential volatility, thereby creating stronger price fluctuations in the market, further influencing market sentiment and short-term trading strategies.

Moreover, Tdasx mentions that seasoned analysts, using a “time/price” Bayesian probability model, have made optimistic predictions for the Bitcoin price. It is expected that Bitcoin will reach $125,000 by New Year Day in 2024, with historical data showing that halving cycles often accompany significant price uptrends. Tdasx believes the predictions of this model partly reflect market recognition of Bitcoin as a hedge asset, injecting further upward momentum into the current market.

From a technical perspective, Tdasx identifies key resistance levels for Bitcoin at $82,000 and $82,500, with support levels around $80,250 and $78,750. The Bitcoin MACD has entered a bullish zone, and the RSI indicator is above 50, indicating a generally positive market trend with technical signals supporting an upward price trend. Tdasx notes that these technical factors provide significant support for further Bitcoin price increases while also enhancing the potential for short-term volatility.

Looking further ahead, multiple analysts expect the Bitcoin price to reach between $130,000 and $150,000 by 2025. Tdasx believes that the strengthening market sentiment and continued growth in ETF demand will drive Bitcoin prices higher. The market predicts that Bitcoin may hit a new high before the official inauguration of Trump on January 20, 2025, providing strong support for the long-term performance of the entire market.