Bitcoin Rises for Seven Consecutive Weeks, Longest Streak Since 2021

Bitcoin (BTC) has risen for seven consecutive weeks. This trend is attributed to expectations of crypto-friendly regulations, MicroStrategy's inclusion in the Nasdaq 100, and continued capital inflow into Exchange-Traded Funds (ETFs).

On the 16th, Bloomberg reported that Bitcoin has maintained its upward trend for seven weeks, marking the longest streak since 2021. As of 10:12 AM, Bitcoin is trading at $105,000 on Coinbase, up 3.89% from the previous day. At one point during the day, Bitcoin surpassed $106,000, but the gains have slightly decreased since then.

Bloomberg cited the crypto-friendly stance of the Donald Trump administration as a factor for Bitcoin's rise. Bloomberg stated, "Trump is moving towards creating a regulatory environment favorable to digital assets, which is a different approach from President Joe Biden's administration. However, the feasibility of a national-level strategic Bitcoin reserve proposed by the Republicans is questionable."

Another factor in the rise is the news of MicroStrategy's inclusion in the Nasdaq 100 index. Last Friday, the Nasdaq Global Index announced that MicroStrategy would be included in the Nasdaq 100 index. James Seyffart, a Bloomberg ETF analyst, predicted, "If MicroStrategy is included in the Nasdaq 100 index, approximately $2.1 billion will flow in," estimating that this is about 20% of MicroStrategy's average daily trading volume.

Additionally, the continuous net inflow into Bitcoin Spot ETFs is also a positive factor. Bitcoin Spot ETFs have recorded net inflows for 12 consecutive trading days since the 27th, with an average daily net inflow of about $450 million.