As a dedicated crypto investor, I was thrilled to witness the resurgence of Bitcoin‘s value, soaring back towards the significant milestone of $100,000 on January 15th. After a challenging beginning to the year, it was heartening to see Bitcoin regain its footing and reemerge as a beacon of hope in the ever-evolving digital asset landscape.
Following a period where Bitcoin (BTC) was subjected to bearish forces around the $90,000 region last week, its price gradually increased and managed to surpass the six-figure threshold again.
Although there’s a chance that further changes might occur, there’s an overall positive outlook among investors regarding how Donald Trump’s inauguration could affect cryptocurrencies and what his presidency might bring.
According to market intelligence and on-chain analytics platform Santiment, the broader economic situation has been a significant factor contributing to the recent increase in prices over the past 24 hours. The analysts at the firm emphasized that positive U.S.-related news has played a major role in driving Bitcoin’s recent price increases.
1) Good news articles boosted Bitcoin’s price by over 4%, allowing it to regain the $100k mark once more. Meanwhile, digital currencies such as XRP, Stellar, and Algorand experienced a surge in value, mirroring the growth of the leading cryptocurrency.
As per Santiment, a key factor driving optimism stems from the incoming Trump administration’s proposals to dismiss non-fraud related cryptocurrency cases and implement a friendlier regulatory approach towards digital assets. In their statement, they highlighted this point.
The latest U.S. inflation reports indicate a decrease in inflation rates and increased expectations for further Federal Reserve interest rate reductions, which could boost crypto markets. Despite the hawkish Fed meeting last month that may have caused a cryptocurrency peak, traders are hoping that the Fed might reconsider their plans for slower rate cuts in 2025.
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At the moment of this writing, Bitcoin was approximately $100,675 and had risen by 4.14% within a day. Over the last seven days, it surged over 7% in value, serving as its benchmark crypto asset.
As an analyst, I observed a significant progression in the Bitcoin market. We came remarkably close to surpassing its all-time high of around $108,000, which it reached on December 17, 2024, recording a gap of approximately 7.3%.
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2025-01-16 17:46