The leaders of the two major regulatory agencies on Wall Street may both be friends of the crypto world!

On Thursday in the Asian market, Bitcoin traded around $100,000, thanks to further signs that advocates in the cryptocurrency space will help shape U.S. financial regulations under the leadership of President Trump.

The latest development is that Brian Quintenz has become a leading candidate to head the Commodity Futures Trading Commission (CFTC). Quintenz is the policy head of the digital assets division at venture capital giant Andreessen Horowitz's a16z Crypto and a former Republican CFTC commissioner.

On Thursday in the Asian market, Bitcoin's price hovered around $101,000.

Trump's push to reverse the Biden administration's crackdown on cryptocurrencies in favor of looser regulations helped Bitcoin reach its all-time high of $103,800 on December 5. Since then, the price of cryptocurrencies has fluctuated around six-figure levels.

The heightened expectations for a Federal Reserve interest rate cut also helped boost investor sentiment on Wednesday. After U.S. CPI inflation met expectations, speculators increased their bets on a Fed rate cut, and the prospects of looser monetary policy propelled the tech-heavy Nasdaq 100 index to a new all-time high.

Henry Elder, head of UTXO Management, stated, "The market likes to see inflation meet expectations," adding that traders are "trying to figure out whether $100,000 is the ceiling or the floor for Bitcoin."

In addition to supportive regulations, Trump also backs the idea of establishing a strategic national Bitcoin reserve. Although many question the feasibility of the latter, the president-elect's son, Donald Trump Jr., indicated that his father "will be an incredible ally for this industry."

Trump was previously a skeptic of digital assets but changed his stance after the industry vigorously promoted its benefits during the U.S. election campaign. This Republican now has his own cryptocurrency project in the crypto space, a controversial field with a history marked by volatility, fraud, and criminal activity.

Since Trump won the U.S. election on November 5, Bitcoin, the king of the crypto world, has risen by about 50%, thanks to approximately $11 billion in funds flowing into U.S. spot Bitcoin exchange-traded funds (ETFs) during this period. Ethereum (the second-largest digital asset) attracted $2.4 billion in equivalent products.#BTC重返10万 #美联储12月降息预期上升