The anticipation surrounding Donald Trump's upcoming inauguration and the potential for crypto-friendly policies is driving optimism in the Bitcoin market. Investors are hopeful that the new administration will prioritize digital assets, leading to favorable regulatory changes. This sentiment is further supported by the recent resignation of SEC Chair Gary Gensler, which has shifted expectations towards a more supportive regulatory environment for cryptocurrencies. Additionally, strong demand from institutional investors, as evidenced by significant inflows into Bitcoin Spot ETFs, is helping to maintain Bitcoin's price stability despite a decline in miner reserves.
The ProShares Bitcoin Strategy ETF (BITO) is currently priced at $25.55 as of 09:20 AM on Saturday, January 18.