rose 2% to $96,711.71 Thursday, bringing its new year gain to about 3% when counting trading from the Jan. 1 session.This year is expected to be a banner year for the crypto industry thanks to a more favorable regulatory environment promised by President-elect Donald Trump. Investors are hoping Congress will pass its first ever crypto focused legislation – which could be centered around stablecoins or market structure.
Traders are also keen to see the crypto public equity markets open up with more initial public offerings and progress on a potential national strategic bitcoin reserve. Crypto assets slid into the end of 2024. Although the post-election rally that sent bitcoin to new records above $100,000 had fizzled, the flagship cryptocurrency still ended the year up more than 120%. Long-term holders took some profits while others sold amid renewed uncertainty about the direction of Federal Reserve interest rate cuts in 2025.Crypto's political tailwinds in 2025 could push bitcoin to $200,000. What to watchMicroStrategy falls as much as 6% after latest bitcoin purchase: CNBC Crypto Worl