BTC’s price broke above $100,000 on Friday morning in Asia as investors anticipate slowing inflation and potential positive crypto policies from U.S. President-elect Donald Trump.
"The market rally was largely driven by lower-than-expected CPI data, which temporarily eased inflation concerns. Additionally, Trump-related headlines played a significant role." — Min Jung, Research Analyst at Presto Research.
Bloomberg reported that Trump is looking to issue an executive order to establish crypto as a national imperative. His policy ideas include establishing an “America-first” strategic reserve that prioritizes coins founded in the U.S., such as USDC, SOL, and XRP.
"The appointment of crypto-friendly officials and expectations of favourable regulatory changes have further fuelled optimism," Rachael Lucas, crypto analyst at BTC Markets, told The Block. Ethereum, however, inched down 0.7% to trade at $3,363, while the GMCI 30 Index rose 2.96%.