"Bitcoin is inching closer to the $100,000 mark, though its momentum has slowed. It clinched another record on Thursday at $99,500, dipping below $99,000 heading into the U.S. open. BTC has risen 1% over the past 24 hours, while the broad-market CoinDesk 20 Index gained over 7%. Most alternative cryptocurrencies (altcoins) in the CD20 outperformed BTC, an early sign of capital rotation into smaller, riskier tokens as bitcoin's pace stalls."
"The $100,000 price point poses a significant resistance level, where investors might take profits on their investments. Still, there's a possibility of BTC rallying to $115,000 by Christmas, supported by broadening stablecoin supply, inflows into ETFs and bullish options positioning on BlackRock's spot BTC ETF (IBIT), 10x Research said in a Friday note."
"Altcoins are taking their moment to shine as regulatory headwinds look poised to clear. Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC) is set to leave on Jan. 20, President-elect Donald Trump's inauguration date. Industry participants anticipate that the agency's new leadership will be more open to approving investment products for smaller tokens and allowing staking for ETFs."
Bitcoin has pushed toward the $100,000 level, briefly reaching $99,500 before easing below $99,000, with a 1% rise in the past 24 hours. The broad-market CoinDesk 20 Index climbed over 7%, as many altcoins outperformed bitcoin, signaling rotation into smaller, higher-risk tokens. The $100,000 level represents a notable resistance where investors may take profits, yet forecasts suggest BTC could reach $115,000 by Christmas supported by rising stablecoin supply, ETF inflows and bullish options on spot BTC ETFs. Regulatory changes and institutional moves are fueling optimism for broader crypto adoption and product approvals.
Read at Coindesk
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