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Bitcoin nears $100K, rising 4.86% in 24 hours, as investors eye regulatory optimism under President-elect Donald Trump.
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Bitcoin’s march toward $100K gained ground on Thursday as investors bet on a friendlier regulatory environment once President-elect Donald Trump takes office.
At press time, BTC is trading at $97.2K, having risen by 4.86% in the past 24 hours. The market-leading crypto asset also trades at a 7.88% weekly and 43.77% monthly premium.
Trump trade bolsters BTC, analyst targets $100k
Donald Trump’s entrance to the Oval Office is expected to bring with it a more favorable regulatory environment.
This aligns with his promise during the election run-in to “Make America the crypto capital of the planet,” which also involves building a US government stockpile of BTC.
Bitcoin is just one strong daily candle away from hitting the $100K milestone, which was nothing but a dream for over a decade after its creation.
“While it’s now firmly into overbought territory, it is being drawn toward the $100k level,” IG Markets analyst Tony Sycamore told Reuters.
Trump has continued to probe the crypto industry since his election victory, with the most recent development being that he’s expected to meet with Coinbase CEO Briand Amstrong, underlining crypto’s new political clout.
