Bitcoin Surges Near $100K as Trump Victory Sparks Crypto Market Rally

Speculation Mounts Over Major Crypto Market Event Following Document Leak As Top Digital Assets Rally

  • Bitcoin approaches $100,000 after recovering from a mid-week decline to $91,000
  • Donald Trump‘s election victory sparks regulatory Optimism in cryptocurrency markets
  • Former SEC Commissioner Paul Atkins emerges as potential new SEC chair candidate
  • Ripple‘s XRP surges 200% since November elections, reaching $108 billion market cap
  • Ripple prepares to launch RLUSD stablecoin with New York regulatory approval pending

Bitcoin Rally Continues as Trump Victory Reshapes Regulatory Landscape

Bitcoin’s price has recovered substantially from its recent dip to $91,000, now approaching the significant $100,000 milestone. The cryptocurrency market’s latest surge comes amid growing confidence following Donald Trump’s presidential election victory and potential regulatory shifts in the U.S.

- Advertisement -

Regulatory Outlook Brightens Under Trump Administration

Trump’s victory has generated positive sentiment in cryptocurrency markets, with his campaign promises including the establishment of a bitcoin strategic reserve and reduced regulatory constraints. Ed Hindi, chief investment officer at Tyr Capital, projects a Bitcoin Price of $250,000 by 2025″, citing increased institutional participation as a key driver.

The potential appointment of former SEC Commissioner Paul Atkins as the new SEC chair has further boosted market confidence. Atkins, known for his pro-financial technology stance, could replace current SEC Chair Gary Gensler.

XRP Experiences Remarkable Growth

Ripple’s XRP has demonstrated exceptional performance, recording a 13% increase this week and approximately 200% growth since early November. The cryptocurrency’s market capitalization has reached $108 billion, securing its position as the fifth-largest cryptocurrency.

Ripple’s Strategic Stablecoin Initiative

According to US-crypto-market”>Fox Business, Ripple is preparing to launch RLUSD, a dollar-pegged stablecoin, pending approval from the New York Department of Financial Services. The anticipated launch date is December 4, positioning RLUSD as a regulated alternative to Tether‘s USDT, which currently dominates the $130 billion stablecoin market.

Market Analysis and Seasonal Patterns

Yuya Hasegawa, crypto market analyst at Bitbank, highlights the “Thanksgiving anomaly” in bitcoin markets: “During bull markets, bitcoin typically experiences losses around Thanksgiving, followed by renewed rallying after one to two weeks.” This pattern was previously observed in 2016 and 2020, coinciding with bitcoin halving events.

Short-term Market Outlook

Market experts anticipate continued volatility through year-end. Hindi suggests a trading range of $75,000 to $120,000 is possible, noting that “corrections will likely be swift as dip buying and profit-taking intensify, driven by high levels of fear of missing out.”

Previous Articles:

- Advertisement -

Latest News

Maine Attorney General Recovers Thousands in Crypto Scam Case

The Maine Attorney General's Office has recovered thousands of dollars for a victim of...

Coinbase Shares Hit Highest Level Since 2021 Nasdaq Debut

Coinbase stock reached its highest price since its 2021 listing, nearly returning to debut...

BPX Gains FCA Nod to Trade Tokenized Securities in the UK

BPX, a startup focused on trading tokenized securities, received several authorizations from the UK’s...

Shopify, Coinbase Launch USDC Payments; Mastercard Expands Crypto Access

Shopify and Coinbase allow merchants to accept USDC stablecoin payments, making crypto transactions easier...

Coinbase Launches Wrapped ADA and LTC on Base, COIN Hits New High

Coinbase has introduced wrapped versions of Cardano (ADA) and Litecoin (LTC) on its Ethereum...

Must Read

9 Best Trading Platforms for Crypto Beginners

Many newcomers to the crypto space are looking for platforms to buy, sell and exchange cryptocurrencies. While there are hundreds of crypto exchanges around...