{"id":820516,"date":"2025-01-17T05:11:48","date_gmt":"2025-01-17T11:11:48","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/17\/bitcoin-surpasses-100000-as-political-optimism-drives-gains\/"},"modified":"2025-01-17T05:11:48","modified_gmt":"2025-01-17T11:11:48","slug":"bitcoin-surpasses-100000-as-political-optimism-drives-gains","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/17\/bitcoin-surpasses-100000-as-political-optimism-drives-gains\/","title":{"rendered":"Bitcoin Surpasses $100,000 As Political Optimism Drives Gains"},"content":{"rendered":"
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<\/p>\n

Bitcoin prices repeatedly climbed above $100,000 today. (Photo illustration by Chesnot\/Getty … [+]<\/span> Images)<\/span><\/p>\n

<\/fbs-accordion>Getty Images<\/small><\/figcaption><\/figure>\n

Bitcoin prices rallied above $100,000 on Wednesday, January 15, recovering from their recent drop below $90,000<\/a> as anticipation surrounding crucial policy decisions propelled the digital currency higher.<\/p>\n

The world\u2019s most valuable digital currency by market value surpassed $100,700 close to 3:30 p.m. EST, according to Coinbase data from TradingView<\/a>.<\/p>\n

After rising to this local high, the cryptocurrency fell back, dropping to roughly $99,500 within the next few hours, additional Coinbase data from TradingView indicates.<\/p>\n

However, the digital asset resumed its roller-coaster ride, surging to nearly $100,900 around 7 p.m. EST. At this point, it had climbed more than 14% since falling to nearly $89,000 on Monday, January 13.<\/p>\n

When providing explanations for what fueled these latest gains, analysts highlighted a handful of developments that could result in bullish policy.<\/p>\n

For starters, several market observers emphasized the recent inflation reports, stating that the results they conveyed could cause Federal Reserve officials to take a less hawkish approach.<\/p>\n

The Federal Open Market Committee (FOMC)\u2019s decision to hike the target range for the benchmark federal funds rate by over 500 points in less than two years generated significant visibility as it placed strong, upward pressure on borrowing costs.<\/p>\n

In addition to the aforementioned government reports, and their potential impact on monetary policy, some analysts highlighted President-Elect Donald Trump\u2019s upcoming inauguration, describing it as likely benefiting the world\u2019s most prominent digital currency.<\/p>\n

Brett Sifling, wealth manager for Gerber Kawasaki Wealth & Investment Management<\/a>, spoke to the first potential cause, stating via emailed commentary that \u201cIt seems that the Bitcoin rally today was sparked by the CPI report today.\u201d<\/p>\n

He was referred to the Labor Department announcement revealing that in December, the Consumer Price Index for All Urban Consumers increased<\/a> at an annualized rate of 0.4%.<\/p>\n

\u201cWith this surprisingly solid inflation information today, I\u2019d assume that market participants are more willing to take on risk in hopes that the report translates to a more lenient fed,\u201d he specified.<\/p>\n

\u201cHowever, this theory is conflicting with the strong jobs report that was recently released. Investors are balancing both reports in hopes that interest rate hikes are on pause in 2025,\u201d Sifling stated.<\/p>\n

Greg Magadini, director of derivatives for digital asset data provider Amberdata<\/a>, also mentioned these government reports in emailed commentary.<\/p>\n

\u201cThe big drag on the US risk-assets and Bitcoin, has been the monetary environment since December’s FOMC meeting,\u201d he noted.<\/p>\n

\u201cYesterday we had the Core PPI coming in at +.1% (versus a +.3% median forecast) and the Core CPI today at +.2% (vs +.3 median), despite non-core CPI coming hot due to oil prices,\u201d Magadini continued.<\/p>\n

\u201cTogether, this was really bullish as the inflationary environment looked less dire this week. Combine this macro outlook with Monday’s inauguration, which promised to be bullish for the crypto industry, markets have rallied back to the Bitcoin $100k level,\u201d he stated.<\/p>\n

\u201cThis price level has been a magnet for option buyers and remains the biggest source of dealer inventory concentration on Deribit,\u201d said Magadini, pointing to activity in the derivatives markets.<\/p>\n

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether, EOS and SOL. <\/em><\/p>\n<\/div>\n

Read More<\/a>
\n Charles Lloyd Bovaird II<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin prices repeatedly climbed above $100,000 today. (Photo illustration by Chesnot\/Getty … [+] Images) Getty Images Bitcoin prices rallied above $100,000 on Wednesday, January 15, recovering from their recent drop below $90,000 as anticipation surrounding crucial policy decisions propelled the digital currency higher. The world\u2019s most valuable digital currency by market value surpassed $100,700 close<\/p>\n","protected":false},"author":1,"featured_media":820517,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,23188],"tags":[],"class_list":["post-820516","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-surpasses"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/820516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=820516"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/820516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/820517"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=820516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=820516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=820516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}