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Bitcoin Breaks $100K Milestone Fueled by Market Growth and Pro-Crypto US Policies
News on the Blockchain
December 05, 2024
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š Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 764
Market Cap: $3.69T (+3.33%)
24h Volume: $359.04B (+22.49%)
Bitcoin Dominance: 55.01%
Ethereum Dominance: 12.83%
ETH Gas Price: 19 Gwei
Fear & Greed Index: 85 (Extreme Greed)
šŖ Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $102,343.27 | +6.09% | $2.03T | $127.45B |
Ethereum (ETH) | $3,924.11 | +5.42% | $472.62B | $65.77B |
Tether (USDT) | $1.00 | +0.01% | $135.78B | $293.40B |
BNB (BNB) | $732.88 | -6.86% | $105.54B | $4.54B |
Solana (SOL) | $237.75 | +0.21% | $113.01B | $7.80B |
š¹ Market Highlights:
Total DeFi Volume: $28.23B (7.86% of 24h volume)
Stablecoins Volume: $327.46B (91.20% of 24h volume)
Coin with Highest % Change: ALPHADOGE (+78.44%)
š Preview On Todayās News:
- Bitcoin Breaks $100K Milestone Fueled by Market Growth and Pro-Crypto US Policies
- Trump Appoints Pro-Crypto Paul Atkins as New SEC Chair, Boosting Crypto Market Optimism
- President Putin Endorses Cryptocurrencies as Bitcoin Approaches $100K Amid Bullish Market Trends
Keep reading for more!
Todayās News:
1)
Bitcoin Breaks $100K Milestone Fueled by Market Growth and Pro-Crypto US Policies
Bitcoin has achieved a historic milestone by surpassing the $100,000 mark on December 5, 2024, marking a 126% increase since January and elevating its market capitalization to $2 trillion. This surge is attributed to over $31 billion in net inflows from US spot Bitcoin exchange-traded funds, a tightened supply following Bitcoinās fourth halving in April, and increased corporate adoption spearheaded by leaders like Michael Saylor of MicroStrategy. Additionally, the election of Republican Donald Trump has sparked further growth by nominating crypto-friendly officials such as Paul Atkins for SEC chair and appointing pro-crypto leaders to the Treasury and Commerce departments, potentially reducing regulatory barriers and enhancing investor confidence. These combined factors have significantly propelled Bitcoinās price rally, establishing a new high in the cryptocurrency market.
Historic Price Surge: Bitcoin reached $100,000 for the first time, driven by significant ETF inflows, supply reduction from the fourth halving, and increased corporate adoption, resulting in a 126% price increase since January and a market cap of $2 trillion.
Supportive US Policies: The election of Donald Trump has led to the nomination of crypto-friendly officials like Paul Atkins for SEC chair and pro-crypto leaders for the Treasury and Commerce departments, potentially easing regulatory hurdles and boosting Bitcoinās rally.
2)
Trump Appoints Pro-Crypto Paul Atkins as New SEC Chair, Boosting Crypto Market Optimism
Following the resignation of Gary Gensler, President-elect Donald Trump has appointed Paul Atkins as the new Chairman of the U.S. Securities and Exchange Commission (SEC). Announced on December 4, 2024, Atkins is recognized for his strong advocacy of cryptocurrencies and his belief in fostering innovative capital markets. His appointment has significantly uplifted the cryptocurrency sector, leading to Bitcoin reaching an all-time high of $99,000 amid expectations of more favorable regulatory environments. Atkins' leadership is anticipated to shift the SEC's stance towards a more pro-crypto approach, potentially easing previous governmental challenges and supporting the growth and stability of digital assets in the U.S. economy.
Paul Atkins Appointed as SEC Chair: Donald Trump selected Paul Atkins, a seasoned pro-crypto advocate who previously served under George W. Bush, to lead the SEC, signaling a major shift in regulatory leadership.
Positive Impact on Crypto Market: Atkins' appointment has boosted investor confidence, contributing to Bitcoin's surge to $99,000 and fostering expectations of more supportive regulations for the cryptocurrency industry.
3)
President Putin Endorses Cryptocurrencies as Bitcoin Approaches $100K Amid Bullish Market Trends
Russian President Vladimir Putin has publicly affirmed the inevitable development of cryptocurrencies, emphasizing their cost efficiency and transaction reliability. During a recent panel discussion, Putin stated that Bitcoin and other digital currencies cannot be banned due to their resilient technology, highlighting their strategic role in helping Russia bypass Western sanctions since the 2022 invasion of Ukraine. Concurrently, Bitcoin is nearing the significant milestone of $100,000 USD, driven by sustained bullish momentum and increased market confidence. The cryptocurrency ecosystem continues to expand with new product launches, decentralized and centralized exchanges offering spot and derivatives trading, and growing community support. Additionally, recent legislative actions in Russia recognize Bitcoin as property and legalize Bitcoin mining, further solidifying the countryās favorable environment for crypto development.
Putin Endorses Crypto Growth: Russian President Vladimir Putin declared the inevitable advancement of cryptocurrencies, citing their resistance to prohibition and strategic importance in circumventing sanctions.
Bitcoin Nears $100K Amid Bullish Sentiment: Bitcoin is approaching the critical $100,000 mark, supported by sustained market growth, positive regulatory developments, and increasing adoption within the crypto community.
