Bitcoin Climbs Towards $100,000 Amid Optimism Over Trump’s Crypto Plans

Bitcoin’s rally toward the highly anticipated $100,000 benchmark accelerated on Thursday, driven by growing confidence among investors. Many believe that the incoming administration under President-elect Donald Trump will adopt a more supportive regulatory framework for cryptocurrencies, creating a favorable environment for the digital asset industry to thrive. This optimism is rooted in expectations that Trump’s pro-business stance, coupled with potential deregulatory measures, could unlock significant growth opportunities for Bitcoin and the broader cryptocurrency market, positioning it for a new era of mainstream adoption and investment.

During Thursday’s European trading session, Bitcoin surpassed the $98,000 threshold for the first time in its history, a key psychological milestone that underscored its remarkable upward momentum. The cryptocurrency posted a gain of approximately 4% on the day, continuing a steady climb that has captured the attention of investors worldwide. This surge highlights the growing demand for Bitcoin as a digital store of value, with many speculating that the asset is on the verge of breaking through the six-figure mark in the near future.

The upward trajectory of Bitcoin’s price has been nothing short of impressive this year, more than doubling in value as institutional and retail investors alike have poured capital into the asset. Notably, in the two weeks following Trump’s election as the next U.S. president, Bitcoin experienced a significant 40% increase. This sharp rise coincided with the election of several pro-crypto lawmakers to Congress, a development that has further fueled market enthusiasm. The combination of a crypto-friendly administration and legislative support is seen as a catalyst for sustained growth in the digital currency sector.

“While it’s now firmly into overbought territory, it is being drawn toward the $100k level,” said IG Markets analyst Tony Sycamore.

Trump embraced digital assets during his campaign, promising to make the United States the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin.

During his campaign, Donald Trump openly embraced digital assets, pledging to position the United States as the “crypto capital of the planet.” His vision included establishing the country as a global leader in cryptocurrency innovation and adoption, with a specific focus on building a national reserve of Bitcoin. This bold promise resonated with crypto enthusiasts and investors, who saw it as a potential game-changer for the industry, signaling a new era of mainstream acceptance and government involvement in digital currencies.

Since Trump’s election victory, more than $4 billion has poured into U.S.-listed Bitcoin exchange-traded funds (ETFs), reflecting a surge of investor confidence in the future of digital assets under his leadership. This week, the launch of options trading for BlackRock’s Bitcoin ETF marked another significant milestone, with a particularly strong performance. Notably, call options—contracts that allow investors to profit from price increases—have been more in demand than put options, which are used to hedge against potential declines. This trend highlights the prevailing bullish sentiment surrounding Bitcoin and its associated financial products.

The rise in Bitcoin’s price has also had a ripple effect across the stock market, driving up the value of crypto-related equities. Shares in MARA Holdings, a prominent Bitcoin mining company, surged nearly 14% overnight, reflecting heightened investor interest in firms that directly benefit from the cryptocurrency’s rally. Meanwhile, MicroStrategy, a software company that has shifted its focus to accumulating Bitcoin despite operating at a loss, saw its stock climb 10%, pushing its market capitalization past the $100 billion mark. These gains underscore the growing influence of Bitcoin on traditional financial markets and the increasing alignment between tech companies and the digital asset ecosystem.

“Many are wondering if this administration will bring the regulatory clarity the crypto community has been waiting for.

It’s likely too soon to say,” said Will Peck, head of digital assets at WisdomTree, a global exchange-traded fund issuer.

“We see all of this excitement as bullish not only for bitcoin or crypto broadly, but the entire blockchain-enabled ecosystem that is growing today.”

Don’t miss: Boost Your Wealth in 2025: Top 5 Cryptos to Watch for the Next Bull Run