Bitcoin is nearing the $100,000 mark, driven by anticipated pro-crypto policies from US President-elect Donald Trump. The digital asset traded above $95,000, reflecting a surge following Trump's victory. His administration is expected to reverse stringent Biden-era crypto regulations, potentially benefiting the industry.
The Republican party is gearing up with crypto-friendly candidates for key regulatory bodies like the SEC and CFTC. There's also talk of a dedicated White House role for digital-asset policy. Trump aims to position the US as a global crypto hub, even suggesting a national Bitcoin reserve, although analysts question its feasibility.
Meanwhile, political unrest in South Korea, with President Yoon Suk Yeol's martial law imposition and withdrawal, pushed Bitcoin prices below $72,000 in local exchanges due to investor risk aversion. Despite this, the overall crypto market has prospered since Trump's election victory, with a $1.3 trillion increase in market capitalization.
Attention is currently on altcoins like BNB and XRP, which have shown notable activity. BNB hit a record high, while XRP is close to its all-time peak. The political and market dynamics are highlighting potential shifts in the crypto landscape globally.
