Bitcoin continues to rise for the 4th consecutive day, bringing the price to a new high at $99,014.
The largest cryptocurrency by market capitalization has more than doubled in price this year, soaring over 130% since the beginning of the year and is now approaching the $100,000 mark.
Donald Trump's victory in the U.S. presidential election earlier this month and the promise of a more crypto-friendly administration have pushed Bitcoin's price up by 46% in just over two weeks.
Investors also welcomed the resignation announcement of the Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, on Thursday. Gensler faced criticism from the crypto industry for his enforcement approach.
Currently, BTC is being traded around $98,400, up more than 4% compared to 24 hours ago.
BTC price chart – 4 hours | Source: TradingView
The Altcoin market increased yesterday.
FTX Token (FTT) is the most impressive performing project, jumping 35% in just the last 24 hours. Over the week, FTT has recorded a profit of over 50%.
Optimism (OP) and XRP (XRP) closely followed with increases of up to 25% in the day.
Many other major projects like Mog Coin (MOG), Stellar (XLM), Ethena (ENA), Arbitrum (ARB), Raydium (RAY), StarkNet (STRK), Cardano (ADA), Bitcoin Cash (BCH), Flare (FLR), Cronos (CRO), Maker (MKR), Celestia (TIA), EOS (EOS), Ethereum Classic (ETC), Filecoin (FIL), Lido DAO (LDO)… have also surged over 10%.
Source: Coin360
Ethereum (ETH) surged, pushing the price above $3,300 after 2 days of correction.
Recently approved Ethereum ETFs have positioned this cryptocurrency as a leading potential benefiting asset, thereby driving strong momentum.
Currently, ETH is being traded around $3,333, up over 9% compared to 24 hours ago.
ETH price chart – 1 day | Source: TradingView