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Photo shows the Bitcoin cryptocurrency on November 12, 2024 in Shanghai, China.
VCG | Visual China Group | Getty Images
Bitcoin prices rebounded above $100,000, kicking off the first full trading week of the new year.
The flagship cryptocurrency was last up around 3% at $101,936.14, according to Coin Metrics. the broader crypto market to Coin table 20 The index rose more than 3%. Bitcoin and ether is having its best week since December 6th, and Solana It was the best week since November 22nd.
Marko Jurina, CEO of cryptocurrency swap platform Jumper.Exchange, said: “Overall, we are in a bullish environment, and traders seem willing to take risks as we enter the new year.” Confirmed today, and with January typically being a bullish month – with positive price action in 6 of the last 10 years – it’s no surprise that the market is up.”
Bitcoin rises above $100,000 early this week
Cryptocurrency moves coincide with tech stocks’ rally Shares of Nvidia and other chip companies rise. High-tech Nasdaq It was last up about 1.1%.
crypto stocks Coin Library and micro strategy rose nearly 8% and 9% respectively. MicroStrategy reported Monday morning that it had purchased an additional 1,070 Bitcoins for approximately $101 million, bringing its total holdings to 447,470 Bitcoins.
After the post-election rally, activity in cryptocurrency markets is returning, driven by the promise of a more supportive regulatory environment. This optimism caused prices to surge for weeks before cooling off at the end of the year. Under the new administration, the price of Bitcoin is expected to double this year, with some price predictions (such as that of Fundstrat’s Tom Lee) reaching as high as $250,000.
