HashKey Group: Bitcoin hits $90,000, with potential for further increase in the future.

HashKey Group stated that Bitcoin has surpassed $90,000 and there is still room for growth in the future. The promise that "Bitcoin will become a reserve asset of the United States" is expected to be fulfilled. Once this positive factor is implemented, existing cryptocurrencies in the US will not flow into the market for sale, significantly lowering the potential bearish market expectations. If Bitcoin becomes a reserve asset of the US, government purchases may occur, opening up new growth opportunities for the market. HashKey Group's chief analyst Jeffrey Ding stated that Bitcoin (BTC) continues to soar, reaching a historical high of $93,907 and a market value of $1.8 trillion. This means that BTC has surpassed silver, becoming the 8th largest asset globally by market value. This momentum indicates that interest in Bitcoin has officially reached a level of significance comparable to other mainstream assets. HashKey Group believes that the reduced expectations of interest rate cuts are relatively short-term and the market may soon adjust to this lowered expectation. The US economy experiencing a soft landing and the trend of core corporate profits have not changed in the medium to long term. The "Trump rally" has driven BTC's increase by almost 30%, and the significant short-term increase has led to some investors selling off. On-chain monitoring shows that more than 20,000 BTC have flowed out of centralized exchanges this week, indicating that the scale of selling is less than the scale of new investors' buying. On-chain data shows that as of the 16th, the average short-term investor profit margin remains at a high of 26%, indicating that there is still significant selling pressure in the subsequent market. If the inflow of funds slows down, prices may decline in the short term. However, more than 20,000 BTC have flowed out of exchanges this week. The market has a significant difference in bullish and bearish sentiments, which is a true reason for the recent market volatility. In the future, it is important to pay attention to whether there will be a significant adjustment in December due to interest rate cuts and the US stock market.