Matrixport: Short-term overbuying and strong capital inflows have boosted Bitcoin's rise, three important dates in December are worth paying attention to

On November 15, Matrixport released a weekly report stating that Bitcoin is experiencing a strong rise driven by multiple positive factors, including the continuous inflow of funds into Bitcoin spot ETFs, expectations of interest rate cuts by the Federal Reserve, and improvements in regulatory environment. The seven-day rolling price increase for Bitcoin reached $19,265 setting a new historical high, demonstrating unprecedented strength in this rebound. Although short-term RSI indicators show overbought conditions which may lead to consolidation, the report predicts that cryptocurrencies will break through an adoption threshold of 8% by 2025 laying the foundation for larger scale adoption. The report specifically focuses on three important dates in December: MicroStrategy's potential inclusion in the SP 500 index on December 6th; Microsoft's review of a Bitcoin investment proposal on December 10th; and FASB's new rules taking effect on December 15th allowing companies to measure cryptocurrencies at fair market value. These events are expected to further drive institutional investors into the market. Looking ahead to 2025, the report predicts that cryptocurrency adoption will break through a key threshold of 8%. At the same time, improvements in regulatory environment due to Trump possibly taking office in January 2025 and FTX’s expected return of $16.5 billion creditor funds are all set to bring continued benefits for Bitcoin market.