The US Fed cut interest rates by 0.50%. In the crypto market, Bitcoin reached a new all-time high of $100,000, with a 5% increase on the trading day. Its market cap soared to $2 trillion, a 5.74% rise. By Dec. 05, the price climbed further to $103,700, and trading volume surged 33% to $91 billion, with 80% bullish sentiment.
This rally was supported by Trump’s nomination of Paul Atkins as SEC Chairman, favored by Ripple’s Brad Garlinghouse and Congressman Tom Emmer for his pro-crypto stance. Also, Fed Chairman Jerome Powell’s view of Bitcoin as a rival to gold enhanced its safe-haven perception.
Beyond the achieved $100,000 mark, institutions and crypto figures foresee more growth. Bernstein Research has a bullish target of $200,000 for 2025 (updated from $150,000 due to increased institutional demand). Cardano’s Charles Hoskinson projects Bitcoin to reach $250,000 in 2 years, with a potential high of $500,000.
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