PANews reported on November 21 that Singaporean crypto investment institution QCP Capital published a statement saying that Bitcoin hit a new high of $97,900 this morning after last night's rise. The surge was driven by optimism in the cryptocurrency market, which was exacerbated by headlines highlighting Bitcoin's growing importance in the corporate world and the continued influx of capital into the asset. MicroStrategy expects to raise $2.6 billion to buy more Bitcoin, and its stock price broke through the $100 billion market value last night and topped the U.S. trading volume list. Several corporate vaults followed MicroStrategy's lead and included Bitcoin in their reserves, and Acurx Pharmaceuticals has reportedly purchased up to $1 million worth of Bitcoin.
As Trump's inauguration approaches, buying of January call options has surged. Bitcoin has firmly held the $97,000 mark and is now closer than ever to the $100,000 milestone. This week, our trading desk observed strong demand for March and June call options, indicating investors' long-term bullish sentiment for next year. Bitcoin spot ETFs have extended their winning streak to three days, with a total of $1.84 billion in net inflows during this period. Bitcoin ETFs have been the biggest driver of capital inflows into Bitcoin this year, with net inflows in US ETFs reaching $29.4 billion. As global central banks continue to ease monetary policy, demand for Bitcoin remains strong and we expect Bitcoin prices to remain supported until the end of the year.
