With these changes afoot within the regulatory structure, Bitcoin peaks above $100,000 yet again.

This was after staying for weeks between the $90,000 and $100,000 level, and breaking this barrier on Wednesday. This recovery has been attributed to growing optimism about the new dispensation for the digital currency industry under the Trump presidency.

The Price of Bitcoin Approaches Record Highs

Significant changes are anticipated in the regulatory environment, especially since Brian Quintenz has emerged as a formidable contender to head the Commodity Futures Trading Commission (CFTC).

Quintenz, a former Republican CFTC commissioner and current head of policy at Andreessen Horowitz's digital asset branch, a16z Crypto, is viewed favourably by the crypto community.

After years of advocating for a regulation through enforcement crusade being led by the outgoing chair Gary Gensler, the crypto friendly Paul Atkins has been appointed to head the US Securities and Exchange Commission, a body he has the capacity to overhaul comprehensively.

The bounce back from the crypto-currency, Bitcoin that reached a high of $104,00 on December 5 could be attributed to Trump’s actions to cancel recent Biden administration ban on cryptocurrency. Since then, the price of Bitcoin has remained in the six-figure range, suggesting that investors are still interested.

Investor morale has also been strengthened by predictions of a possible interest rate cut by the US Federal Reserve (Fed), in addition to regulatory optimism.

Positive Attitude Increases

Speculators are betting more on a new interest rate decrease after reports that US consumer-price inflation met projections. Markets have benefited from this change in monetary policy expectations, which has caused the tech-heavy Nasdaq 100 stock index to reach a new high.

"The market likes seeing inflation come in within expectations," said Henry Elder, a principal at UTXO Management. He said that traders are now setting whether $100,000 will be the minimum or the maximum value of Bitcoin.

Trump has supported the notion of the though of having a stash of bitcoins for national security besides signing the order on establishing a favorable regulatory environment.
It was a view echoed by Eric Trump, who said on Bloomberg Television recently that his father would be “an unbelievable ally to the industry” although there is still debate as to whether this proposition is doable.

Because of the more than $11 billion in net new money pouring into US spot Bitcoin exchange traded funds since the Trump election win on November 5, Bitcoin has soared by nearly 50%.

The fundamental cryptocurrency is getting some positive boost from technical expert Ali Martinez who mentioned that whales are actively buying dips. In particular, when the price went down from $104,000 to $90,000, 342 wallets with the balance exceeding 100 BTC were received.

Owners’ Demand contributes to such a positive outlook; Martinez believes that BTC can rise to $275k, given that one-week cup-and-handle formation on the chart.

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