Bitcoin Surges Past $105,000 Amid Optimism Over Regulatory Shift

Bitcoin soared to an all-time high of $106,493 in early trading on Monday as Asian markets opened, extending its previous peak of $100,000 reached on December 5. Smaller cryptocurrencies like Ether, XRP, and Dogecoin also saw significant gains, reflecting the growing demand for digital assets. Analysts link this surge to optimism surrounding U.S. President-elect Donald Trump’s plans for a favorable regulatory environment for cryptocurrencies, reversing the outgoing Biden administration’s restrictive policies.
The Republican leader, set to begin his second term in January after defeating Vice President Kamala Harris in last month’s election, is reportedly considering a “national Bitcoin stockpile.” This initiative aims to establish the U.S. as a leader in digital finance, though questions remain about its practicality. The influx of $12.2 billion into Bitcoin-focused Exchange Traded Funds (ETFs) and $2.8 billion into similar Ether products further underscores the bullish sentiment.
Market experts attribute the enthusiasm to expectations of a friendlier crypto policy framework. Aya Kantorovich, co-founder of August, a crypto platform, noted that the optimism is driving demand for ETFs investing in digital assets. These developments mark a turning point for the cryptocurrency market, with stakeholders eyeing long-term growth under a more accommodating administration.
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