New BTC Rally to $99K Sparks Optimism for Pro-Crypto Trump Administration

New BTC Rally: The Price Holds Above $99,000 Amid Pro-Crypto Political Sentiment

Early on Friday, Bitcoin prices surged beyond $99,200, fell to $98,600, and then held above $99,000 in the afternoon hours in Asia. Due mostly to Bitcoin’s 1.21% increase, the total market value has increased by 3.32% over the last day to a record $3.4 trillion.

• According to data, spot Bitcoin ETFs available in the United States saw net inflows of over $1 billion, with BlackRock’s IBIT accounting for the largest purchases at $600 million.
• There were nearly $300 million inflows into Fidelity’s FBTC, while none of the eleven ETFs had any withdrawals.

With fresh optimism about a Trump government that is pro-crypto when it takes office in January, the strength of Bitcoin is causing a rotation in other key tokens ahead of the weekend. Bitcoin prices are predicted by traders to remain stable in the near future.

We continue to see strong demand for BTC alongside further easing of monetary policy by global central banks, BTC prices are likely to remain supported as we approach the end of the year. Throughout the week, our desk observed aggressive demand in March and June Calls, signaling investors’ long-term bullish sentiment for next year.

traders at QCP Capital

XRP Leads Crypto Gains as SEC Shakeup Boosts U.S.-Linked Tokens

Several indexes that monitor the larger decentralized finance (DeFi) industry have increased by at least 8% in the last day due to Ether’s (ETH) almost 6.80% increase. Because they tend to operate as beta bets on ETH’s rise, well-known Ethereum-based meme coins like Mog (MOG) and Pepe (PEPE) have increased by up to 27%.

As ETF filings occur in the United States and blockchain is still being used for speculative trading, Solana’s SOL is up 7.22%, reaching new highs above $260. With an 11.31% rise, Cardano’s ADA is the second-largest gain among majors, behind XRP. When SEC chair Gary Gensler stated he would step down in January, it cleared the path for tokens associated with U.S. corporations, and XRP surged 23.93%, leading growth among major coins.

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