Can Bitcoin break through the psychological barrier of $100,000 and usher in a celebratory breakout?

In the past 24 hours, the price of Bitcoin has risen by 1.5%, climbing to $96,900, fueled by market sentiment ignited by the news of U.S. President-elect Trump's nomination. The nominee is Paul Atkins, a cryptocurrency-friendly official, who is expected to become the new chairman of the U.S. Securities and Exchange Commission (SEC).

Although Atkins has not yet confirmed his acceptance of the nomination, the market is already filled with anticipation. Bitcoin has risen 4% over the past week and has surged 40% in the past 30 days. Moreover, from a technical perspective, a classic "symmetrical triangle" pattern is forming in the Bitcoin chart, which usually indicates that a significant price breakout is imminent. Simply put, this pattern is like a spring being compressed tighter and tighter, ready to explode at any moment.

Furthermore, Trump's return may mean that favorable policies for the cryptocurrency market will gradually be implemented, further boosting Bitcoin's trajectory. If these expectations come true, it may not be far-fetched for Bitcoin to break through $100,000 or even higher by the end of the year.

It is important to note that despite the overall optimistic market atmosphere, institutional funds still show caution. Therefore, a bit more patience may be needed to see a true breakout. However, both technically and fundamentally, various signs are telling us that the story of this bull market is not over yet.

To stay updated with market dynamics and capture market signals in advance, experience Mlion (visit: mlion.ai). As an AI research assistant in the web3 vertical field, it can not only help you analyze news deeply, integrate real-time news, and provide in-depth insights, but also accurately predict cryptocurrency price trends. Whether it’s AI analyzing market sentiment or an intuitive data dashboard, Mlion can help you quickly understand the market and safeguard your investment decisions. Seize the market opportunity now!

Bitcoin is about to enter a critical moment of "symmetrical triangle" breakout, and each of us should ask ourselves: Are you ready when the market truly ignites?

For more news analysis, real-time price analysis and predictions, and SWAP cross-chain exchanges, please visit: 🤖👉 visit mlion.ai

The above content is for informational sharing only and does not constitute any investment advice!

Follow me for more market information shared daily.