{"id":27820,"date":"2024-12-12T07:30:15","date_gmt":"2024-12-12T07:30:15","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=27820"},"modified":"2024-12-12T07:30:15","modified_gmt":"2024-12-12T07:30:15","slug":"bitcoin-surges-past-100000-once-again-amid-shifts-in-regulatory-landscape","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=27820","title":{"rendered":"Bitcoin Surges Past $100,000 Once Again Amid Shifts In Regulatory Landscape"},"content":{"rendered":"

Bitcoin (BTC) recaptured the vital $100,000 threshold<\/a> on Wednesday, following weeks of consolidation below it. This rebound has been attributed to rising confidence in the digital currency sector\u2019s future regulatory environment under President-elect Donald Trump.<\/p>\n

Bitcoin Price Nears Record Peaks<\/h2>\n

The regulatory landscape is poised for significant changes, particularly with Brian Quintenz emerging as a strong candidate<\/a> to lead the Commodity Futures Trading Commission (CFTC).\u00a0<\/p>\n

Quintenz, currently the head of policy at a16z Crypto\u2014Andreessen Horowitz\u2019s digital asset division\u2014and a former Republican CFTC commissioner, is seen as a favorable choice for the crypto community.\u00a0<\/p>\n

This follows the recent selection of pro-crypto Paul Atkins<\/a> 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<\/a>.<\/p>\n

Trump\u2019s recent efforts to reverse a Biden administration crackdown on crypto have contributed to Bitcoin\u2019s 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.<\/p>\n

Alongside regulatory optimism, expectations for a potential reduction in interest rates by the US Federal Reserve (Fed) have also bolstered investor sentiment.\u00a0<\/p>\n

Bullish Sentiment Grows<\/h2>\n

Following reports that US consumer-price inflation met forecasts, speculators have increased their bets on a new interest rate cut<\/a>. 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.<\/p>\n

Henry Elder, a principal at UTXO Management, noted, \u201cThe market likes seeing inflation come in within expectations,\u201d adding that traders are currently assessing whether $100,000 will act as a ceiling or a floor for BTC prices.<\/p>\n

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.\u00a0<\/p>\n

While the feasibility of this idea remains debated, Eric Trump recently expressed <\/a>on Bloomberg Television that his father would be \u201can unbelievable ally to the industry.\u201d<\/p>\n

Since Trump\u2019s 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).<\/p>\n

Technical expert Ali Martinez has added to the positive view for the flagship cryptocurrency by stating <\/a>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.<\/p>\n

This accumulation by major holders fuels the positive mentality, with Martinez projecting <\/a>the Bitcoin price will hit $275,000 based on a cup-and-handle formation on its one-week chart.<\/p>\n

Featured image from DALL-E, chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"

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\u2019s 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 […]<\/p>\n","protected":false},"author":0,"featured_media":27821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27820"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27820"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27821"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}