The recent inflation data (CPI) looks pretty good, prices aren't rising as aggressively, and the market thinks the Federal Reserve might lower interest rates, which would reduce borrowing costs. This is good news for the stock market and high-risk investments like cryptocurrencies.
The best-case scenario would be if Trump's people could replace Powell (the Federal Reserve Chairman) with someone who would implement a looser policy, like a significant interest rate cut, which would make the market even more excited. However, this is a bit far off; Powell is likely to remain in his position in the short term. The overall economic environment has improved slightly, and interest in risk assets is warming up.
Bitcoin (BTC) has recently made several attempts to break through the $110,000 mark but has always fallen short. The market's expectation for a direct surge has cooled a bit. The best outcome might be that capital shifts its enthusiasm from BTC to Ethereum (ETH), especially since large institutions like BlackRock seem to be more optimistic about ETH.
After all, Ethereum's ecosystem (smart contracts, DeFi, etc.) is quite popular, and BlackRock may have even launched ETH-related investment products to attract more big money. $BTC