Bitcoin soars past $106k as Trump hints at US Bitcoin strategic reserve, fueling bullish sentiment and market optimism.
Reuters •
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Promote with Leviathan NewsBitcoin surged to a new all‑time high above $106,000 in mid‑December 2024, extending a multi‑week rally driven by strong inflows into U.S. spot bitcoin exchange‑traded funds (ETFs) and growing expectations of a more crypto‑friendly policy stance under President‑elect Donald Trump. At one point in Asian trading, the price climbed over 3% to around $106,493, surpassing its earlier peak set on December 5 and marking its longest winning streak since 2021. The move came after a brief pullback below $95,000 earlier in the week, underscoring elevated volatility around these new highs. Market sentiment was further boosted by Trump’s public hints about creating a U.S. “strategic reserve” of bitcoin or cryptocurrencies, a concept framed by supporters as analogous to the Strategic Petroleum Reserve but for digital assets. Coverage described Trump as positioning the United States to be a leading global hub for crypto and signaling plans to roll back the more restrictive regulatory posture associated with the prior administration. These political signals, combined with ongoing ETF demand and broader risk‑on sentiment in digital assets, reinforced a bullish narrative that the U.S. government could become more structurally aligned with bitcoin, helping fuel speculative flows and optimism across the crypto market. "entities":["Bitcoin (BTC)","Donald Trump / President‑elect Trump","U.S. Bitcoin strategic reserve (proposed concept)","U.S. cryptocurrency strategic reserve (proposed)","U.S. spot Bitcoin ETFs","U.S. government / U.S. crypto policy","Biden administration (prior regulatory stance)","Analytics Insight (reporting)","Blockhead (reporting)"]}`
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More coverage
- Bitcoin Hits $106K Amid Growing Speculation of U.S. Crypto Reserve (analyticsinsight.net)
- News sitemap - Bitget (bitget.com)
- Why Bitcoin Keeps Soaring to New Highs - Blockhead (blockhead.co)
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