Key points:
- Bitcoin slips from landmark figure
- Prices float near $98,000 Monday
- What’s ahead for crypto space?
Mere $300 was not enough for the OG token to breach the six-digit mark over the weekend. But things can change faster than you can say $100,000.
- Bitcoin prices BTCUSD were plain boring to kick off Monday trading after they ripped like crazy last week. Closing in on the landmark $100,000 level, the orange coin on Friday hit as high as $99,700, just some $300 shy of the six-figure milestone. This morning, a pop of bitcoin was going for roughly $98,000 as the rally had softened with crypto traders likely taking a breather before they try again to cross the mark.
- It wasn’t just Bitcoin that went on a tear last week. Solana, an Ethereum rival, blasted off to a new record high above $265 a piece, boasting a peak valuation of about $125 billion. Memecoins were in the spotlight, too — Dogecoin hit 48 cents but went all the way back to 41 cents on Sunday. Overall, the market cap of the crypto space on Friday hit a record high of $3.4 trillion (still not as high as Nvidia’s market value.)
- President-elect Donald Trump, now viewed as a huge cheerleader for crypto, has vowed to support the industry by introducing friendly regulations that will help expand mainstream interest. And that’s what’s been driving prices. Since Trump’s victory over Kamala Harris on November 5, the digital asset space has added a whopping $1 trillion to its valuation. Most of that has trickled into Bitcoin, which has gained 42% for the time span.