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Bitcoin Nears $100k Amid Trump-Linked Crypto Surge

Bitcoin prices have rebounded sharply, nearing $100,000 following fears of a market crash. The surge comes after Donald Trump’s election victory in November, with reports suggesting he plans to issue crypto-focused executive orders upon taking office in January, potentially fueling further price growth.

Now, as the Federal Reserve braces for a looming crisis, Trump, the self-styled crypto president, will reportedly issue several crypto-related executive orders on his first day back in the White House, January 20—with one predicted to spark a huge bitcoin price boom.

Trump’s day-one executive orders may address issues including de-banking and the repeal of a controversial crypto accounting policy requiring banks holding bitcoin and crypto to count them as liabilities on the bank’s own balance sheet.

“The Trump team has made it very clear that this is a priority,” an anonymous source told the Washington Post.

01/15 update: Bitcoin has surged following the latest U.S. data showed headline prices climbed as expected but core inflation, stripping out food and fuel, came in slightly below predictions.

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The bitcoin price has rocketed toward $100,000 per bitcoin, almost entirely erasing its early January decline.

The inflation data means the Federal Reserve may be more inclined than previously thought to reduce interest rates through 2024, feeding risk assets such as bitcoin with increased liquidity.

“Bitcoin is also currently undergoing a local test as its price surpasses the $97,000 mark,” Alex Kuptsikevich, the FxPro chief market analyst, said in comments ahead of the inflation data drop. 

“It is now challenging the 50-day moving average from below, a level it dropped beneath just over a week ago. The rally, with global equity indices relatively neutral, indicates a gradual recovery in risk appetite.”

The bitcoin price recovery from a dip last week may now have “run its course,” according to Geoff Kendrick, head of crypto research at Standard Chartered Bank, who maintained his bullish bitcoin price prediction for 2025 in an emailed note.

“We would recommend accumulating longs again,” Kendrick wrote. “We continue to target bitcoin at the $200,000 level by end-2025 as institutional inflows resume under the Trump administration.”

The mysterious, unconfirmed so-called “Operation ChokePoint 2.0″—named for a similar, 2013 U.S. Department of Justice policy to de-bank legal industries deemed to be high risk for fraud and money laundering—has weighed on crypto companies through the Biden administration, with founders and executives claiming financial regulators have pressured banks to cut off crypto companies from financial services.

The issue was recently catapulted into mainstream consciousness by venture capitalist Marc Andreessen’s appearance on Joe Rogan’s podcast.

Andreessen, who has backed many tech and crypto companies at the VC company known as a16z and is an associate of Trump’s so-called crypto czar David Sacks, is reportedly working with Trump’s incoming administration behind the scenes.

Credit: Forbes

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