Bitcoin price exceeds $100,000 again according to CPI news and regulatory optimism
Key takeaways
- Bitcoin surpassed $100,000 again on Wednesday, rising again after recently falling below $90,000 for the first time since November.
- Inflation data and a Reuters report encouraging cryptocurrency supporters are likely to lift the leading cryptocurrency.
- The Securities and Exchange Commission could change its cryptocurrency policy as soon as next week, and ongoing enforcement actions could be paused, according to Reuters.
Bitcoin rose back above $100,000 on Wednesday, rising on new inflation data that lifted stocks and regulatory news seen as bullish for the cryptocurrency.
Bitcoin recently traded below the six-figure mark. Her latest moves followed the release of CPI data is better than expected And a Reuters Report on regulatory developments seen as likely On the road For the cryptocurrency industry in the incoming Trump administration.
The rise also comes on the heels of a volatile stretch for Bitcoin, which on Monday It fell below $90,000 For the first time since mid-November.
the CPI news indicated The Federal Reserve is likely to cut interest rates in the future, allaying some investors’ fears of an extended pause or even higher interest rates. Low interest rates and Treasury yields tend to send investors looking for returns in riskier assets.
New leadership in Securities and Exchange Commission It plans to overhaul the agency’s cryptocurrency policies as soon as next week, Reuters I mentioned. The Securities and Exchange Commission (SEC) could provide clearer guidance on when crypto assets are considered… protectionan explanation that cryptocurrency exchanges love Coinbase has called out. Some enforcement actions taken by the Biden administration may also be frozen, Reuters I mentioned.
In an interview with Yahoo! In Finance yesterday, outgoing SEC Chairman Gary Gensler shared his belief that existing laws and regulations can be applied to the cryptocurrency industry, and the problem that cryptocurrency exchanges face is that they simply do not like the law.
https://www.investopedia.com/thmb/iQuvk3luAfmnERx3NaRTMB1gLkU=/1500×0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-2183657650-56c16bd93b7647809543f178928e100f.jpg
2025-01-16 01:23:00
