Bitcoin’s new record is $85K, leaving just 17% for the $100K BTC.

Bitcoin broke the $85,000 record for the very first time. This could set the stage for six-figure prices before 2025.

Bitcoin’s (BTCThe Cointelegraph’s data indicates that at 18:41 PM UTC the ) price reached a new high.

It comes one week after Donald Trump, the former president of the United States won the elections for 2024 in that country. He secured his second tenure in office.

Bitcoins’ price is just 17.6% off the psychologically significant $100,000 level, and could reach it before the end 2024.

Related: Top Polymarket whale profits $20M from Trump victory

Trump victory puts Bitcoin on track to $100,000 before end of year — Analyst

Trump’s election inspired new bullishness in investors. This has led to a rise in demand for assets that are risky, such as Bitcoin.

Ryan Lee is the chief analyst of Bitget Research. He believes the US election results could lead to a new era in the world. Bitcoin to surpass $100,000 Before the end of this year.

Analyst told Cointelegraph that implied volatility and open interest on futures are indicators of traders preparing themselves for a Bitcoin movement with high volatility.

“Additionally, with the market capitalization of stablecoins hitting a new high and fluctuating around $160 billion, there is room for significant leverage in the market, potentially pushing BTC to reach $100,000 within the next three months.”

Related: Two Bitcoin whales buy $142M BTC after Trump’s win

Many expect that the upcoming Trump presidency will bring clearer regulations for cryptos, which favor innovation on blockchains.

Coinbase CEO Brian Armstrong described the Republican Party’s majority in the Senate as “the”most pro-crypto Congress ever.”

Andrey Lazutkin is the chief technology officer at Tangem Wallet. He told Cointelegraph that he hopes this new Senate introduces more innovative regulations for financial technology and cryptocurrency.

“A Republican Senate would likely prioritize innovation-friendly and industry-supportive policies for the crypto space, creating an environment where US-based crypto companies might operate with greater confidence and less regulatory friction.”

Bitcoin continues to see a steady flow of inflows. exchange-traded funds (ETFs) Bitcoin prices are rising due to other factors. BlackRock Bitcoin ETF saw $1 billion worth of volume in the first minutes Cointelegraph, a news outlet that reported Nov. 6, 2016, on post-election financial trading.

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