beneficiary of a more crypto-friendly environment in the incoming Trump administration, gained 4%. MicroStrategy , which trades as a proxy for bitcoin, advanced 7%. Bitcoin has been regularly hitting records since the Nov. 5 presidential election, up about 38% in that time. On Friday, it rose as high as $99,849.99 before testing the $90,000 support level this week. “The bitcoin bull market has legs,” Alex Thorn, head of firmwide research at Galaxy Digital, said in a report Wednesday. “There will be corrections and hiccups, which is normal. There could even some twilight regulatory or law enforcement actions from the outgoing Biden administration that jitter markets. But a combination of increasing institutional, corporate, and potentially nation-state adoption, a new U.S. administration that is shaping up to be extremely pro-bitcoin, and solid positioning and network data all point to higher over the near and medium term.” Fairlead Strategies’ Katie Stockton told CNBC’s “Squawk Box” on Monday that, at current levels, bitcoin investors are in “unchartered territory in terms of where there’s resistance — which, of course, there is none.” Meanwhile, support is around $74,000. Bitcoin reached $92,000 for the first time ever just two weeks ago, on Nov. 13.