Bitcoin Consolidates Near $100,000 as Investors Assess Trump’s Crypto Support

Bitcoin Rally Stalls

Bitcoin, the digital asset, stabilized after a rally fell short of $100,000, prompting investors to reevaluate the optimism surrounding President-elect Donald Trump’s backing of cryptocurrencies.

Trump’s Influence on Crypto Market

Trump’s incoming administration is seen as a positive force for the crypto market, with a surge of $1 trillion in digital assets value since the Republican victory on Nov. 5.

Challenges Ahead

Investors are cautious as Bitcoin approaches the $100,000 mark, anticipating a possible consolidation phase before a sustained breakthrough.

New Developments in the Market

Bloomberg reveals discussions between Cantor Fitzgerald LP and Tether Holdings Ltd. regarding support for Cantor’s lending program using Bitcoin as collateral, signaling potential market changes.

Market Resilience

Despite a slight pullback, Bitcoin remains resilient, with cash pouring into US ETFs focused on Bitcoin investment post-Trump’s win, reaching $107 billion in assets.

Crypto experts believe Bitcoin’s recent rally was inevitable as the asset was overbought post-election, creating a temporary stall in its price surge. However, market analysts predict a potential resurgence beyond previous highs, driven by evolving US regulatory support and increasing mainstream adoption of digital assets.

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