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Bitcoin surged on Friday, reaching new heights as optimism surrounding friendlier U.S. regulations and a surge in options trading activity fueled the cryptocurrency\u2019s rally. The world\u2019s largest crypto asset climbed 1.9% to $98,870.4 by 06:17 GMT, with an intraday high of $99,289.3. This marks a weekly gain of 9.1%, propelling Bitcoin closer to the much-anticipated $100,000 milestone.<\/p>\n\n\n\n
Bitcoin’s Meteoric Rise in 2024<\/strong> Boost from Blackrock\u2019s Bitcoin ETF Options<\/strong> SEC Shake-Up Fuels Altcoin Gains<\/strong> Ripple’s XRP token soared 27% on Friday, reflecting hopes for a softer regulatory approach under a Trump-led administration. Traders anticipate that Gensler\u2019s successor will adopt a more lenient stance, aligning with Trump’s pro-crypto agenda.<\/p>\n\n\n\n Altcoins Shine in Optimistic Market<\/strong> Meme tokens also rallied, with Dogecoin advancing 2.6% on the day and 8.3% for the week.<\/p>\n\n\n\n Bitcoin surged on Friday, reaching new heights as optimism surrounding friendlier U.S. regulations and a surge in options trading activity fueled the cryptocurrency\u2019s rally. The world\u2019s largest crypto asset climbed 1.9% to $98,870.4 by 06:17 GMT, with an intraday high of $99,289.3. This marks a weekly gain of 9.1%, propelling Bitcoin closer to the much-anticipated …<\/p>\n","protected":false},"author":9,"featured_media":44550,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[9231],"class_list":["post-108556","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-bitcoin-price"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/108556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=108556"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/108556\/revisions"}],"predecessor-version":[{"id":108557,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/108556\/revisions\/108557"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/44550"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=108556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=108556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=108556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Bitcoin has more than doubled in value this year, spurred by renewed optimism following Donald Trump\u2019s election victory. The former president’s pledge to make the U.S. the “crypto capital of the planet” and his proposal to establish a Bitcoin national reserve have been key drivers of the rally. Reports of Trump considering a cabinet position dedicated to cryptocurrency regulation have further boosted market sentiment.<\/p>\n\n\n\n
The crypto’s recent surge was also bolstered by the launch of options tied to Blackrock\u2019s iShares Bitcoin Trust (IBIT) exchange-traded fund. This development spurred a wave of call option buying, injecting fresh liquidity into the crypto market.<\/p>\n\n\n\n
The resignation announcement of SEC Chair Gary Gensler, set for January 20, added to the buoyant mood in crypto markets. Gensler\u2019s tenure saw aggressive regulatory actions against the industry, including high-profile lawsuits against Coinbase and Ripple.<\/p>\n\n\n\n
The upbeat sentiment extended beyond Bitcoin, with major altcoins recording substantial gains. Ether rose 8.2% to $3,365.18, achieving a weekly increase of 7.5%. SOL jumped nearly 9%, while ADA and MATIC posted gains of 13.2% and 6.1%, respectively.<\/p>\n\n\n\n
Bitcoin\u2019s march toward $100,000 epitomizes the renewed vigor in cryptocurrency markets, fueled by regulatory optimism and innovative financial instruments. As Trump\u2019s presidency draws closer, the industry looks set for a transformative era, with market participants eyeing further milestones and broader adoption across digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"