Cryptocurrencies started the year with gains, recovering from recent losses as market optimism returned. Bitcoin rose 3% above $97,000 on Thursday, marking a nearly 4% gain since January 1st. Investors expect a strong year for the crypto industry, driven by favorable regulatory prospects under President-elect Trump and potential congressional action on crypto-focused legislation. Traders are watching for more crypto IPOs and progress toward a national strategic bitcoin reserve. A post-election rally in 2024 pushed Bitcoin past $100,000. The year ended with profit-taking and concerns over Federal Reserve interest rate policies. Bitcoin closed 2024 up more than 120%.
Category
đź—ž
NewsTranscript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Cryptocurrencies kicked off the year with gains, recovering from recent losses,
00:05as market optimism returned. Bitcoin rose 3% above $97,000 on Thursday,
00:11marking a nearly 4% gain since January 1. Investors expect a strong year for the crypto
00:16industry, driven by favorable regulatory prospects under President-elect Trump and
00:20potential congressional action on crypto-focused legislation. Traders are watching for more
00:25crypto IPOs and progress towards a national strategic Bitcoin reserve. A post-election
00:30rally in 2024 pushed Bitcoin past $100,000. The year ended with some profit-taking concerns
00:36over Federal Reserve interest rate policies. Bitcoin closed 2024 up more than 120%.