The anticipation of President-elect Donald Trump's potential executive order prioritizing cryptocurrency as a national policy has significantly influenced Bitcoin's price movement. Reports of a strategic Bitcoin reserve and a crypto advisory council have fueled market optimism, suggesting a more favorable regulatory environment under the new administration. This optimism is reflected in the resurgence of demand for Bitcoin ETFs, with substantial inflows recorded as Bitcoin maintains its position above $100,000. However, the muted 'Coinbase Premium' indicates that U.S. investors may have already priced in much of this optimism during the previous rally.
The 2x Bitcoin Strategy ETF (BITX) experienced a notable increase, rising 3.94% to $61.17 at 4:20 AM on Friday, January 17.