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Bitcoin Hits New Record High of Over $105,000
Bitcoin’s Surge to Record High
Bitcoin reached a historic milestone, surpassing $105,000 in early trading as the Asian markets opened on Monday. This achievement follows Bitcoin’s recent breakthrough of $100,000 on December 5.
Market Trends and Rise of Other Tokens
During the trading session, Bitcoin surged by more than 3%, peaking at an unprecedented $106,493. Smaller cryptocurrencies like Ether, XRP, and Dogecoin also experienced gains.
Factors Influencing Bitcoin’s Rally
Market experts attribute the surge in Bitcoin to the anticipated regulatory changes under the upcoming US President, Donald Trump. The shift towards a more supportive regulatory environment for digital assets could reverse the restrictive measures implemented by the outgoing Biden administration.
Trump’s Support for Digital Assets
Donald Trump is reportedly in favor of establishing a national Bitcoin stockpile, although the feasibility of this concept remains uncertain. The optimism surrounding Trump’s policies has led to increased demand for exchange-traded funds investing in cryptocurrencies.
Investor Sentiment and Financial Inflows
Following Trump’s election victory, Bitcoin-specific Exchange Traded Funds have attracted significant net inflows, totaling $12.2 billion. Similarly, subscriptions for Ether-related products have reached $2.8 billion over the same period.