Bitcoin Surges Past $100,000 Once Again Amid Shifts In Regulatory Landscape

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,985,797,669,887	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,985,797,669,887

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-807.85	-0.80%	100,385.36	100,385.35	100,385.36

Price Change

Price Change %

Current Price

Bid Price

Offer

-807.85

-0.80%

100,385.36

100,385.35

100,385.36

High Price	Low Price	Open Price	Prev. Close	52 Week Range
101,953.03	100,194.33	101,151.30	101,193.21	38,501.00 - 104,000.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

101,953.03

100,194.33

101,151.30

101,193.21

38,501.00 - 104,000.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	11:41:19	0.000053	100,384.23	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

11:41:19

0.000053

100,384.23

USD

Price x Volume	Volume	Base Symbol	Related Pairs
508,426,189.83	5,035.34	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

508,426,189.83

5,035.34

Bitcoin Surges Past $100,000 Once Again Amid Shifts In Regulatory Landscape

12/12/2024 7:30am

NEWSBTC

Bitcoin (BTC) recaptured the vital $100,000 threshold on Wednesday, following weeks of consolidation below it. This rebound has been attributed to rising confidence in the digital currency sector’s future regulatory environment under President-elect Donald Trump. Bitcoin Price Nears Record Peaks The regulatory landscape is poised for significant changes, particularly with Brian Quintenz emerging as a strong candidate to lead the Commodity Futures Trading Commission (CFTC). Quintenz, currently the head of policy at a16z Crypto—Andreessen Horowitz’s digital asset division—and a former Republican CFTC commissioner, is seen as a favorable choice for the crypto community. Related Reading: XRP Price Defies Bearish Crypto Trend, Rallies 6%: Key Drivers Revealed This follows the recent selection of pro-crypto Paul Atkins to lead the US Securities and Exchange Commission (SEC), giving him the ability to turn the regulatory agency 180 degrees after years of leading a regulation-by-enforcement crusade led by its retiring chair Gary Gensler. Trump’s recent efforts to reverse a Biden administration crackdown on crypto have contributed to Bitcoin’s recovery, which reached an all-time high of $104,00 on December 5. Since then, Bitcoin has fluctuated around the six-figure mark, indicating sustained interest from investors. Alongside regulatory optimism, expectations for a potential reduction in interest rates by the US Federal Reserve (Fed) have also bolstered investor sentiment. Bullish Sentiment Grows Following reports that US consumer-price inflation met forecasts, speculators have increased their bets on a new interest rate cut. This shift in monetary policy expectations has had a positive impact on markets, propelling the tech-heavy Nasdaq 100 stock index to a record high. Henry Elder, a principal at UTXO Management, noted, “The market likes seeing inflation come in within expectations,” adding that traders are currently assessing whether $100,000 will act as a ceiling or a floor for BTC prices. Trump has not only indicated a willingness to foster a more favorable regulatory environment but has also supported the concept of a strategic national Bitcoin stockpile. While the feasibility of this idea remains debated, Eric Trump recently expressed on Bloomberg Television that his father would be “an unbelievable ally to the industry.” Related Reading: Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible Since Trump’s election victory on November 5, Bitcoin has surged nearly 50%, buoyed by approximately $11 billion in net inflows into US spot Bitcoin exchange-traded funds (ETFs). Technical expert Ali Martinez has added to the positive view for the flagship cryptocurrency by stating that whales are aggressively buying dips. Notably, 342 wallets with more than 100 BTC were created when prices dropped from $104,000 to $90,000. This accumulation by major holders fuels the positive mentality, with Martinez projecting the Bitcoin price will hit $275,000 based on a cup-and-handle formation on its one-week chart. Featured image from DALL-E, chart from TradingView.com

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