Trump's calling power is astonishing! He single-handedly pushed the United States back to the "dominant position in cryptocurrency."

As 2025 approaches, the global center of the cryptocurrency market has once again shifted back to the U.S. market, thanks to Donald Trump's reelection as President of the United States. This "MAGA leader" re-entering the White House can be considered the "strongest supporter" of cryptocurrency, driving global funds towards the U.S. cryptocurrency trading market. Trump has expressed his desire to make the U.S. the "capital of cryptocurrency" and a "superpower of Bitcoin", promoting the continuous growth in demand for the country's digital asset type funds (such as Bitcoin ETFs and Ethereum ETFs) and cryptocurrency derivative contracts. Trump has vowed to make the U.S. a dominant force in the cryptocurrency industry, triggering a wave of global cryptocurrency trading frenzy that has intensified since the unexpected successful launch of a Bitcoin Exchange Traded Fund (Bitcoin ETF) in early 2024, pushing the Bitcoin trading price to the epic threshold of $100,000. Therefore, the U.S. market has become increasingly crucial in terms of global cryptocurrency liquidity and benchmark pricing of cryptocurrencies like Bitcoin. For much of the past year, Asia seemed to have been the biggest beneficiary of the Biden administration's crackdown on cryptocurrencies, but now Trump is turning the tide. The chart below captures the changes in the cryptocurrency market structure during the historic cryptocurrency period of the past 12 months. During this period, the cryptocurrency trading frenzy led by the U.S. market pushed the price of Bitcoin above $100,000 for the first time. Overall, large transactions between Bitcoin and the U.S. dollar are more concentrated during U.S. trading hours. In addition, there are statistics showing that the open interest contracts for Bitcoin and Ethereum futures traded on the CME exchange have reached historical highs. Trading Shift - Trading between Bitcoin and the U.S. dollar is more concentrated during U.S. trading hours Kaiko's statistics show that the daily trading volume of Bitcoin against the U.S. dollar during U.S. hours has increased from about 40% in 2021 to approximately 53%. Thomas Eldoskey, CF Benchmarks' product manager, stated that institutional participation in cryptocurrency investments led by Wall Street's major asset management institutions has shifted the "liquidity dominance of cryptocurrencies" completely to the U.S. Expansion of ETF trading volume Since successfully listing on the U.S. stock market in January, the cumulative daily trading volume of all Bitcoin ETF products on the U.S. stock market has exceeded $500 billion, with a net inflow of approximately $36 billion. The "iShares Bitcoin ETF" (IBIT.US) issued by BlackRock, Inc., the world's largest asset management giant, is one of the most successful ETF launches in the history of the U.S. stock market. Walla...Liquidity has returned to pre-"FTX Trading Empire Collapse" levels, following the extreme negative event that devastated the entire cryptocurrency market.Previously, in 2022, the complete collapse of FTX Exchange and its sister hedge fund Alameda Research severely damaged cryptocurrency market liquidity. However, since the beginning of this year, the successful launch of Bitcoin ETFs in the US stock market and the cryptocurrency investment boom triggered by Trump's election victory have helped turn the situation around. The stablecoin market also highlights the overall coverage of long-standing cautious sentiment in the current cryptocurrency investment boom. After the infamous "stablecoin collapse event" caused by TerraUSD in 2022 severely impacted market sentiment, the overall market value of stablecoins has slowly begun to rise and has recently grown rapidly, reaching new heights. According to DeFiLlama's statistics, as of November, the total market value of stablecoins has increased by 46% this year, exceeding $190 billion, surpassing the historical record set during the Terra era, and reaching a new all-time high. Kaiko's statistics show that the indicator measuring the "depth of the cryptocurrency market" is also expanding - the ability to handle relatively large orders without significantly affecting trading prices reflects the market's ability to smoothly absorb these trades when facing large trading volume without causing significant price fluctuations. The data shows that the "depth of the cryptocurrency market" has returned to its peak level before the FTX crisis, filling in the majority of the so-called "Alameda gap." After the FTX and Alameda events, the depth of the cryptocurrency market sharply decreased, meaning that the distribution of buy and sell orders became sparse, leading to significant price fluctuations.