If it reaches this level, Bitcoin will exceed a market cap of $2 trillion. Bitcoin’s rise accelerated with the Republican Party victory earlier this month, and on Thursday BTC broke a record high above $97,000.

BTC was noted to have crossed $97,500 during Asian hours, which puts it less than 3% away from the important psychological threshold of $100,000. According to data, Bitcoin has increased by nearly 30% in the last 14 days.

This rise is linked to the risk appetite, especially after the US government’s crypto-friendly policies and the Federal Reserve lowered interest rates.

This started a market that was dubbed the “Trump trade” among traders; That is, since Donald Trump’s election victory, an increase in value has been observed in all asset classes, from stocks to bonds.

BlackRock’s newly offered IBIT options, which track Bitcoin prices and are physically settled, have a great impact on the rise of Bitcoin. These options attracted great interest from institutional investors, increasing the activity in the market.

BlackRock IBIT options have been a huge success in terms of trading volume, indicating increasing institutional confidence in Bitcoin in the market.

Singapore-based QCP Capital stated in a statement on Thursday that IBIT options were very active in the market with 73 thousand contracts in the first hour of trading and attracted attention with a strong bullish call-put ratio of 4.4:1.

This strengthened the expectations that Bitcoin will become more widespread in the future and volatility and downside risks will decrease.

It was also stated that when determining the new SEC chairman, the Trump transition team considered Teresa Goody Guillén, a partner at BakerHostetler law firm and co-leader of the blockchain team, as a candidate.

This development indicates that interest in Bitcoin and crypto markets in general will increase and positive changes may occur in the regulatory environment. The cryptocurrency world expects more changes and opportunities in the market structure following Trump’s victory.

Another factor that has a huge impact on Bitcoin becoming a mainstream asset now is the predictions made by banks and traditional financial analysts. Many analysts predict that Bitcoin’s value could rise as high as $200,000.

These predictions are a strong sign that the victory of the Republican Party and the cryptocurrency-friendly stance of the US government will have a positive impact on the market.

Bitcoin’s rise is not just due to market dynamics; It is also strengthened by policy, interest from institutional investors and the influence of new financial products. The cryptocurrency market is rapidly becoming one of the mainstream financial asset classes, especially led by Bitcoin.

This situation provides more opportunities for investors, while reinforcing beliefs that Bitcoin will solidify its place as a strong store of value in the long term.