Bitcoin's growth potential amid new U.S. president

The Chief Analyst of Bitget Research believes that the growing volatility in the derivatives market and the increase in open interest in futures indicate a high probability of significant price movement for Bitcoin.

Additionally, the expert noted that the market capitalization of stablecoins has reached a new high of $160 billion, creating conditions for leveraging in the market and potential BTC growth over the next three months.

Crypto market reaction

Shortly after the election results were announced, Bitcoin’s price reached a new all-time high—over $76,400. Expectations of clearer crypto regulation and a more open policy toward blockchain innovation boosted optimism among investors and traders.

Pro-Crypto majority in the U.S. Congress

Alongside Trump’s victory, the Republican Party also gained a majority in the Senate, which experts consider a significant advantage for the crypto market.

The CEO of Coinbase called the new Congress the most pro-crypto in history. The expert expressed the opinion that the Republican majority will help create business-oriented crypto regulation, which will provide a lasting positive impact on the industry and unlock the potential of blockchain technology.