Galaxy Research states that the Bitcoin bull market is not over and predicts that Bitcoin (BTC) may soon attempt to surpass the $100,000 mark. The report attributes this anticipated growth to increasing institutional adoption, the potential establishment of Bitcoin nation-state reserves, and a pro-crypto U.S. administration. Analyst Alex Thorn notes that while there may be regulatory challenges from the outgoing Biden administration that could create market jitters, the overall setup for Bitcoin over the next two years appears bullish. The options market positioning for Bitcoin is also optimistic, which may enhance liquidity and reduce volatility, attracting more institutional investors and boosting retail demand. As of the report's publication, Bitcoin's price was around $94,600, reflecting a 2.8% increase.

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