HashKey Group: Bitcoin stands at $90,000, with room for future growth

According to the Zhitong Finance APP, HashKey Group stated that Bitcoin has surpassed $90,000, and there is still room for further increases in the future. The promise that "Bitcoin will become a U.S. reserve asset" will be fulfilled. Once this favorable factor is implemented, existing cryptocurrencies in the U.S. will not flow into the market for sale, which will greatly reduce the potential bearish expectations in the market; Bitcoin, as a U.S. reserve asset, may involve government procurement actions. If this move is realized, it will open up new upward space for the market. Jeffrey Ding, Chief Analyst at HashKey Group, stated that Bitcoin (BTC) continues to soar, with prices reaching a historic high of $93,907 and a market capitalization of $1.8 trillion. This means that BTC has surpassed silver, becoming the eighth largest asset in the world by market capitalization. This momentum indicates that people's interest in Bitcoin has officially reached a level of importance comparable to other mainstream assets. HashKey Group believes that the expectation of interest rate cuts has been lowered, and the impact is relatively short-term; the market may quickly complete the pricing adjustment for this lowered expectation. The U.S. economy is experiencing a soft landing, and the trend of core corporate profit growth has not changed in the medium to long term. Currently, the "Trump market" has driven BTC's increase to nearly 30%, and the short-term surge has triggered some investors to sell off. On-chain monitoring shows that over 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 floating profit of short-term investors 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, short-term prices may decline. However, over 20,000 BTC have flowed out of exchanges this week. The significant divergence in market bullish and bearish sentiments is also the real reason for the recent volatility in the market. Attention should be paid to the potential interest rate cuts in December and whether there will be significant adjustments in the U.S. stock market