Bitcoin Crypto rejoins rally on Friday amid president-elect reports donald trump An executive order may soon be issued to make crypto a national priority.
According to Coin Metrix, the flagship cryptocurrency was last priced at $104,672.37, up more than 4%. The broader crypto market, as measured coindesk20 The index was up another 3% after rising 4% on Thursday.
Shares of exchange operators coinbase And Robin Hood Each advanced by more than 4%. Trading platforms benefit from trading activity in small cap cryptocurrencies. Interest in small-cap, high-risk coins surges ahead of Trump’s inauguration litecoin 30% increase in last two days.
Moves follow Bloomberg report Late Thursday, Trump is expected to create the crypto advisory council he previously promised, giving the industry a voice within his administration. According to the New York Times, Bitcoin reserves are part of discussions about a potential executive order that would cover multiple areas of crypto policy. informed Same day.
Bitcoin trading above $100,000 ahead of Trump’s inauguration
The new heightened expectations come after Wall Street warned this month that while having a pro-crypto Congress and White House in 2025 will certainly be helpful for innovation in the industry and asset class, it will be some time before its impact on the market is felt. It may take time.
Coins and crypto projects outside of Bitcoin certainly stand to benefit more from clearer and supportive policy and regulation, as they have been the greater target of SEC lawsuits and alleged banking discrimination under the Biden administration. Some investors say that if a national reserve is established, Bitcoin could see a rocket ship rally.
Bitcoin has been trading closely with stocks so far this year. It has been in consolidation mode since late December, when Federal Reserve Chairman Jerome Powell sounded the inflation alarm, which eased this week after two tepid December inflation reports. Bitcoin ETFs have seen inflows of more than $1 billion in the past two days.
Investors are hoping for an announcement from the incoming administration next week to send Bitcoin higher – potentially to a new record.
The new heightened expectations come after Wall Street warned this month that while having a pro-crypto Congress and White House in 2025 will certainly be helpful for innovation in the industry and asset class, it will be some time before its impact on the market is felt. It may take time.
“The new administration and new SEC chairman open the door to new opportunities in cryptocurrency innovation,” said JPMorgan analyst Kenneth Worthington. said in a note this weekHowever, he added, “We do not see the next wave of cryptocurrencies (exchange-traded products) launching for the crypto ecosystem given the very small market capitalization of other tokens and very little investor interest.”
Bitcoin’s record since December 17 is $108,327.01. This is more than 11% in 2025.
