Trump's Presidency Sets off Bitcoin Rally, Soon to Cross $100,000

Bitcoin’s historic rally gained momentum on Thursday, with prices surging past $98,000 during European trading hours, fueled by optimism around a potential pro-crypto regulatory stance under U.S. President-elect Donald Trump. The cryptocurrency was up 4% on the day, marking a year-to-date price increase of over 100% and a 40% jump since Trump’s election victory.

Trump’s campaign promises to make the U.S. the "crypto capital of the planet" and build a national bitcoin reserve have bolstered investor confidence. His administration, combined with the election of several pro-crypto lawmakers to Congress, is expected to usher in a regulatory environment favorable to digital assets.

"Bitcoin is firmly in overbought territory but is magnetized by the $100k level," said Tony Sycamore, an analyst at IG Markets.
Institutional Momentum

Bitcoin exchange-traded funds (ETFs) have seen massive inflows, with over $4 billion pouring into U.S.-listed ETFs since the election. BlackRock’s bitcoin ETF options debuted strongly this week, with call options—indicating bullish bets on price increases—dominating activity.

The enthusiasm extends beyond bitcoin. “This excitement is bullish not just for bitcoin or cryptocurrencies broadly but for the entire blockchain-enabled ecosystem,” said Will Peck, head of digital assets at WisdomTree.

While many hope the new administration will provide much-needed regulatory clarity, experts caution it’s too early to predict specific policy changes. For now, the market’s optimism underscores a broader shift toward mainstream acceptance of cryptocurrencies.

Stay tuned as bitcoin inches closer to the $100,000 milestone, signaling a transformative moment in the crypto market.