Key Points

• Bitcoin reached a new ATH close to $90,000, while BTC ETFs recorded significant inflows.
• The industry believes that a Strategic Bitcoin Reserve is the most urgent policy on Trump’s agenda.

Today, Bitcoin’s price reached a new ATH above $89,800, fueled by optimism in the crypto industry and renewed inflows in Bitcoin ETFs.

At the moment of writing this article, BTC is trading above $86,000, up by over 5% in the past 24 hours. BTC’s market cap is at $1.7 trillion.

Yesterday, the coin’s market cap surpassed the one of silver, positioning BTC as the eighth asset in the world by market cap.

Since the US elections, BTC kicked off a notable rally, marking various new ATHs in just a few days. The price surge was catalyzed by Trump’s win, and a prediction of a more favorable regulatory framework for the digital asset industry.

Strategic Bitcoin Reserve Bill Could Pass in the First 100 Days of Trump’s Presidency

The crypto industry is optimistic regarding an upcoming change in Washington in 2025, highlighting that the most urgent change to be implemented in the country is a Strategic Bitcoin Reserve.

Today, Senator Cynthia Lummis said that she believes this can be done with bipartisan support in the first 100 days, but only with support from the people.

In a message via X, she said that this is a game changer for the solvency of the nation, and passing the Bitcoin Act would mean putting the country on sound financial footing.

The Bitcoin and crypto industry’s policy wishlist is a long and pressing one, but a Strategic Bitcoin Reserve is now the most urgent and transformational policy on President Donald Trump’s agenda, as its downstream effects could change everything.

The Bitcoin Act will allow the US to buy 1 million Bitcoins over 5 years.

Apart from optimism stemming from a change in the regulatory framework for BTC and crypto in the USA, another notable price catalyst for the coin has been a continued streak of significant inflows in US BTC ETFs.

BTC ETFs Total Net Flow Near $27 Billion

On November 11, BTC ETFs recorded another significant inflow day at over $1.11 billion. BlackRock’s IBIT was the leader with more than $756 million in inflows, followed by Fidelity’s FBTC which saw inflows of over $135 million.

Yesterday marked the third biggest inflow day for the crypto products. The most significant day since the BTC ETFs’ launch in January was November 7 when they recorded inflows of almost $1.4 billion.

The second biggest inflow day for the crypto products was March 12, at $1.05 billion, according to SoSoValue data.

The total net assets locked in BTC ETFs surpassed $90 billion as of November 11, while the cumulative flows in the crypto products nears $27 billion since their launch.

Significant inflows in Bitcoin ETFs translate into increased institutional adoption for the digital asset and a stronger exposure of big money to the crypto industry.

Overall, considering all the positive catalysts for Bitcoin’s price, it’s safe to expect the coin to hit $100,000 even before the January 20 Inauguration of Trump as the US President.