BTC continued to hit new highs today, breaking through $97,000 at 1pm and hitting a high of $97,852. Ki Young Ju, CEO of CryptoQuant, tweeted that BTC's current data is similar to the early stages of the 2020 Bull Market, as it approaches $100,000. CryptoQuant CEO: BTC's current data is similar to the early stages of the 2020 Bull Market. As BTC continues to break new highs, Ki Young Ju shared the BTC bull and bear market cycle indicator chart and stated that the data shows that BTC has started its Bull Market and is similar to the early stages of the 2020 Bull Market. Ki Young Ju also analyzed the reasons for BTC's rise: the cost of mining doubled after the BTC Block Reward Halving, and the price needs to rise to maintain Miner profitability. Many traders shorted BTC, and the market may drive the Bull Market through a short squeeze. Based on past Halving cycle performance, BTC's Bull Market usually starts in the fourth quarter (October-December). Several companies have listed BTC as a reserve asset. In addition, after Trump was elected, his promise to make BTC a strategic reserve asset for the United States, although the market believes that the probability of implementation is small, has prompted US-listed companies to start buying BTC as a reserve asset. The education group Genius Group (NYSE: GNS) announced on November 18 that it will purchase 110 BTCs at a price of $10 million, with an average purchase price of $90,932. Biopharmaceutical company Hoth Therapeutics (NASDAQ: HOTH) announced on November 20 that the board approved the purchase of up to $1 million worth of BTC. Biopharmaceutical company Acurx Pharmaceuticals (NASDAQ: ACXP) announced on November 20 that the board approved the purchase of up to $1 million worth of BTC as a reserve asset. US-listed company LQR House announced on November 19 that the board approved the purchase of up to $1 million worth of BTC as a reserve asset. MicroStrategy, which holds 331,200 BTC, worth over $31.7 billion, has become the US-listed company with the largest BTC holding. Its total holding cost is $16.518 billion, with a floating profit of over $15 billion.