Hold onto your hats, folks, because this week in the crypto world has been nothing short of legendary! Bitcoin has smashed through the $100K ceiling for the first time, leaving everyone buzzing with excitement. Meanwhile, Donald Trump dropped a bombshell of his own, announcing his pick for the next US SEC Chairman.
The crypto sphere was electric over the past seven days, with the overall market cap swelling by a jaw-dropping $300 billion to hit a whopping $3.8 trillion. Let's dig into the juicy details of Bitcoin's wild ride and the altcoin action that followed.
Bitcoin was the star of the show this week. At first, it was playing a rather dull game, bouncing between $98,000 and $96,000, even dipping below $94,000. Yawn, right? But then Wednesday came, and Bitcoin was like, “Hold my beer,” skyrocketing to $99,000. Everyone thought it would hit a wall there, but nope! Thursday morning, Bitcoin shattered expectations and soared past $100,000, setting a new all-time high of around $104,000. But not so fast! Sellers swooped in, causing a dramatic plunge to $92,000. Talk about a rollercoaster!
Fortunately, Bitcoin found its footing and is now chilling around $98,000. But it wasn't just Bitcoin stealing the spotlight. Ripple's XRP was the top dog, surging by a staggering 60% before settling at $2.30. Ethereum, Binance Coin, and ADA also joined the party with impressive gains.
On top of Bitcoin's historic rally, President-elect Donald Trump announced his choice for SEC Chairman: former commissioner Paul Atkins, known for his crypto-friendly stance. This could shake things up in the crypto world, so stay tuned!
Looking ahead, the big question is whether Bitcoin will reclaim its $104,000 high or if there's a bigger dip on the horizon. Only time will tell!
In other news, MicroStrategy is on a Bitcoin buying spree, adding 15,400 BTC to its stash for $1.5 billion. Meanwhile, MARA Holdings closed an $850 million offering to boost their Bitcoin reserves. Jerome Powell, the Fed Chair, compared Bitcoin to gold, saying it’s not a threat to the dollar. BlackRock’s Bitcoin ETF made history, hitting $50 billion in record time. Mt. Gox moved a mountain of BTC as it prepares for creditor distributions, and Solana whales are on a buying binge with predictions of SOL reaching $600.
So, there you have it! The crypto world is buzzing, and there's no telling what next week will bring. Keep your eyes peeled and your crypto wallets ready!
