Bitcoin is reclaiming the $96,000 mark after hitting the lowest price since November

Bitcoin recovered $96,000 after a tough start to the week. At press time, the leading cryptocurrency is trading at around $96,580, up 5.8% over the past 24 hours, according to CoinGecko data.

The sudden jump comes amid reports that President-elect Donald Trump is preparing to release Pro-crypto executive order shortly after his inauguration. The sources said Decryption Earlier this week, this could include a new cryptocurrency council made up of 20 executives and industry leaders, as well as the repeal of Securities and Exchange Commission regulations that prevent traditional banks from holding cryptocurrencies.

The news comes after investors appeared to have pulled out of Bitcoin ETFs in recent days, which have recorded consecutive outflows every day since January 8, according to Bloomberg. Data from Farside InvestorsWhen investors withdrew $569 million.

Bitcoin reached a monthly low of just under $90,000 on January 13. This was the lowest value recorded since November 17, amid the upward trend that followed the election of Donald Trump and Speculation about further government support for the cryptocurrency industry and a national Bitcoin reserve.

Some researchers believe the decline earlier this week may have been linked to broader speculation about the US government delaying interest rate cuts in response to promising employment data, with investment bank Goldman Sachs issuing a forecast to that effect.

Head of Institutional Research at Coinbase David Dong He said Decryption “Concerns that the Fed may not deliver any cuts in 2025 are weighing on assets across the board.”

Lower federal funds rates can have a positive impact on asset prices, because they allow for cheaper investment.

Despite compensating for recent losses Bitcoin price It’s still down 5.6% from this time last month and down 4.8% on a weekly basis. It is also down about 11% since its high of $108,000 on December 17.

However, although Bitcoin is slightly below its recent highs in December, it is still up 125% year over year.