Bitcoin has surged to an all-time high, driven by a wave of optimism surrounding a potential pro-crypto regulatory environment under President-elect Donald Trump. The flagship cryptocurrency briefly touched $106,000 before settling at $104,500 in early Asian trading on Monday.

The rally marks a more than 50% gain in Bitcoin's price since Trump’s victory in the November 5 election, fueled by expectations of a friendlier regulatory framework for digital assets. Trump has reportedly supported establishing a national Bitcoin stockpile, which analysts believe could further cement Bitcoin's role as a strategic financial asset. However, questions remain about the feasibility and mechanics of such a proposal.

10x Research highlighted the potential for further gains, citing a new trading signal generated by its proven Trading Models, which have achieved a 10-out-of-12 success rate. The signal forecasts Bitcoin could surge to $120,000 by Trump’s inauguration on January 20, 2025. 

The recent inclusion of MicroStrategy in the Nasdaq 100, rather than the expected S&P 500, could spur institutional buying activity. Additionally, MicroStrategy has hinted at plans to issue convertible bonds to bolster its Bitcoin holdings, potentially driving prices higher. Meanwhile, Microsoft’s proposal to adopt Bitcoin as a treasury asset, though unlikely, and the Financial Accounting Standards Board’s new fair-value accounting rules for crypto assets are also bolstering institutional interest.

The surge is further supported by strong institutional inflows. Data from SoSoValue reveals that Bitcoin spot ETFs saw a net inflow of $2.17 billion from December 9 to December 13, marking five consecutive days of inflows. BlackRock’s ETF (IBIT) led the charge with $1.51 billion in inflows, while Fidelity’s ETF (FBTC) attracted $598 million.

Reports from NYDIG indicate that Trump remains committed to creating a national Bitcoin reserve, a campaign promise aimed at leveraging Bitcoin as a strategic asset. While details of the plan remain unclear, Axios reporting suggests Trump hopes to push Bitcoin’s price to $150,000 early in his presidency. The move is bolstered by his selection of crypto-friendly figures for key cabinet and regulatory positions, setting the stage for a favorable policy landscape.

As of Monday, Bitcoin is trading at $104,765.55, up 5.36% over the past seven days, according to CoinMarketCap. The rally comes amidst broader market enthusiasm for digital assets, with several analysts forecasting a strong year for Bitcoin in 2025.