- Bitcoin rose to $96,000 on Tuesday.
- The top crypto-asset jumped 4% amid a report outlining VC giant Marc Andreessen’s goals in the new administration.
- A judge ruled in favour of Coinbase against the SEC, another bullish sign for crypto prices.
- Optimism is building for crypto-friendly laws under Trump.
Bitcoin is rallying once again and is trading at $96,000.
The asset’s price has been down only for the past week, slumping as low as $90,000 on Monday.
Bitcoin’s latest resurgence comes amid news that incoming US President Donald Trump will enact favourable crypto policies immediately after his inauguration on January 20.
According to the Washington Post, sources close to Trump’s new administration say the president-elect will issue crypto-related executive orders upon taking office.
These orders are expected to address alleged “debanking” and reversing the controversial SAB 121 policy restricting banks from servicing crypto firms.
Crypto billionaire and Galaxy Digital founder Mike Novogratz last year identified SAB 121 as one of the Joe Biden-era policies that would be swiftly repealed under Trump.
The Washington Post reported that Trump’s willingness to endorse a crypto legislative strategy at the beginning of his presidency comes at the prompting of a cast of Silicon Valley moguls, including Marc Andreessen, general partner at venture capital giant Andreessen Horowitz.
Bitcoin and cryptocurrency prices responded positively to the news of the budding alliance.
Coinbase
The bullish narrative was strengthened by a favourable court ruling for Coinbase against the Securities and Exchange Commission on the same day as the Washington Post article.
The price has stalled as sceptics are unsure of the Trump administration’s ability to pass legislation in the early days of his term.
Also weighing on crypto prices: signs of a strong US economy, which have dampened optimism that the Federal Reserve will cut interest rates further.
Lower interest rates tend to spur investment in riskier assets including crypto.
These fears have tugged Bitcoin and cryptocurrency prices downward since mid-December.
Price outlook
Still, analysts say Bitcoin is still primed for gains.
“A softer-than-expected inflation reading could trigger a Bitcoin rally” as the Fed considers the impact on inflation, crypto research outfit 10x Research said in a report.
Arthur Azizov, CEO of crypto payment provider B2BInPay, has a more bullish take.
“Bitcoin could reach $100,000 to $102,000 next month,” Azizov told DL News.
Crypto market movers
- Bitcoin has rallied 4.4% over the past 24 hours to reach $96,531.
- Ethereum is up 4.6% over the same period to $3,199.
What we’re reading
- Traders seethe after Sony freezes memecoins on its new blockchain ― DL News
- The first big rug of 2025 ― Milk Road
- Ethereum Accounts to Post on Social Media More After Criticism ― Unchained
- Are we about to see a 30% pullback? ― Milk Road
- Mango DAO votes to shut down following SEC settlement ― DL News
Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@dlnews.com.
