You are about to leave the website of SDM Inc. ("SDM") and will be redirected to the website of SDM Financial Inc. ("SDM Financial"), a US affiliate of SDM providing crypto derivatives trading services.
Please be aware that SDM Financial's services are not intended for, and should not be used by, residents of Canada.
By clicking on the link to SDM Financial's website, you acknowledge and agree that: You are not a Canadian resident.
SDM Financial is not registered with any regulatory authority in Canada and is strictly prohibited from entering, or otherwise engaging in, any transactions with Canadian residents.
Non-Canadian residents who deal with SDM Financial do so at their own risk, and SDM will not be held liable for any losses or damages incurred as a result.
By clicking 'I Accept' below, you confirm that you have read, understand, and agree to the above . If you do not agree, please select 'I Decline' and you will be redirected back to SDM's website.
Trump Congratulates Bitcoiners on $100K Milestone Amid Industry Buzz Over New All-Time High
Bitcoin's surge past $100,000 has sparked widespread optimism in the crypto industry, with analysts eyeing targets as high as $200,000 by the end of 2025. Factors driving the rally include President-elect Donald Trump’s pro-crypto stance, institutional inflows, and regulatory shifts. Industry leaders celebrated the milestone as a sign of mainstream adoption, with Coinbase CEO Brian Armstrong highlighting Bitcoin's exceptional performance over the past decade. However, some warned of potential short-term corrections as investors take profits, while others pointed to retail participation as a key catalyst for further growth.
Mt. Gox Transfers $2.4B in Bitcoin to Unknown Wallet Amid $100K Milestone
Mt. Gox, the bankrupt crypto exchange, transferred 27,871 BTC (worth $2.4 billion) to an unmarked wallet as Bitcoin surpassed the $100,000 milestone. The movement, recorded by Arkham Intelligence, marked the first large-scale transfer from Mt. Gox since Nov. 12. While it’s unclear if the transaction is tied to creditor repayments, such transfers have historically preceded payouts through exchanges like Kraken and Bitstamp. Creditors are still awaiting repayment after Mt. Gox extended its deadline to Oct. 31, 2025. Mt. Gox, once the largest Bitcoin exchange, collapsed in 2014 after losing 850,000 BTC in a hack.
Fed Chair Powell Compares Bitcoin to Digital Gold
Federal Reserve Chair Jerome Powell compared Bitcoin to gold during The New York Times' DealBook Summit, emphasizing its speculative nature rather than its use as a payment method. "It's just like gold, only virtual, digital," Powell stated, adding that Bitcoin is volatile and not a competitor to the U.S. dollar. While previously acknowledging Bitcoin's "staying power," Powell reiterated that the Fed's primary focus is ensuring crypto's interaction with banks does not threaten financial stability. Bitcoin's price hovered near $97,400 after surpassing $100,000, driven by market optimism following pro-crypto developments under President-elect Donald Trump. Powell clarified he cannot own crypto and noted the Fed’s independence from political influence.
Trading Desk Insights
Finally, the moment we’ve all been waiting for. BTC has broken above the record high of $100,000 and is now trading around $103,000. This has taken place after the equity market traded at record highs and after Trump announced Paul Atkins as his pick for SEC chair, propelling BTC's year-to-date gain to over 140%, with a notable 50% increase post-election. The ascent was further bolstered by remarks from Federal Reserve Chair Jerome Powell at a recent conference, where he differentiated BTC from traditional fiat currencies by likening it more to gold due to its virtual, highly volatile nature and non-usage as a conventional payment or store of value method.
“It’s just like gold, only it’s virtual, it’s digital. People are not using it as a form of payment or as a store of value. It’s highly volatile. It’s not a competitor for the dollar, it’s really a competitor for gold.”
BTC's current market cap is now appx $2 trillion, positioning it close to surpassing major tech giants such as Google and Amazon in market value. Achieving a price point of $115,000 per token would elevate BTC to the status of the fifth-largest global asset. However, the market dynamics exhibit signs of overheating, evident from the steep annualized funding rates for perpetual contracts in both BTC and altcoin markets, currently near 100%. Such high rates indicate potential volatility and risks of significant price corrections.
Additionally, market sentiment has been affected by the movement of $2.8 billion worth of BTC from the defunct Mt. Gox exchange to an undisclosed address, sparking concerns across social platforms.
In correlation, crypto-centric stocks have shown robust pre-market activity; MicroStrategy's stock, often viewed as a bitcoin proxy, has seen an exponential increase of over 2,700% since initiating its bitcoin acquisitions in 2020. Other related entities like Robinhood Markets and Coinbase Global have also experienced substantial gains, advancing over 7% and 5%, respectively, with both Mara Holdings and Riot Platforms observing upwards of a 6% increase.
Crypto Charts
Disclaimer
This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
The information on which the analysis is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, company website, company white paper, pitchbook and any other sources. While Secure Digital Markets has obtained data, statistics, and information from sources it believes to be reliable, it does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.
Unless otherwise provided in a separate agreement, Secure Digital Markets does not represent that the report contents meet all of the presentation and/or disclosure standards applicable in the jurisdiction the recipient is located. Secure Digital Markets and their officers, directors and employees shall not be responsible or liable for any trading decisions, damages or other losses resulting from, or related to, the information, data, analyses, or opinions within the report.
Crypto and/or digital currencies involve substantial risk, are speculative in nature and may not perform as expected. Many digital currency platforms are not subject to regulatory supervision, unlike regulated exchanges. Some platforms may commingle customer assets in shared accounts and provide inadequate custody, which may affect whether or how investors can withdraw their currency and/or subject them to money laundering. Digital currencies may be vulnerable to hacks and cyber fraud as well as significant volatility and price swings.
Contact Us
Sign up to receive more exclusive market coverage:
.png)
.png)
.avif)
.avif)
.jpeg)
