The price of Bitcoin rose to $97,011, marking a 2% increase and a 3% gain since the start of 2025. XRP led the rally with a 10% gain, while Coinbase and MicroStrategy saw their shares rise by 4% each. The optimism in the market is fueled by hopes for a crypto-friendly environment under President Donald Trump. There is also speculation about the potential passing of new legislation focused on digital assets, which could provide clarity to the industry. Additionally, the possibility of new crypto-focused IPOs and a national Bitcoin reserve has investors excited. Before the end of 2024, Bitcoin experienced a post-election rally, but lost steam after surpassing $100,000. However, it still closed the year with a 120% increase. "Fartcoin," a meme token, saw an impressive 45% surge in market value. Bitcoin ETFs in the US are nearing $110 billion in cumulative holdings, with BlackRock leading the market with its iShares Bitcoin Trust ETF. Traders are closely watching Bitcoin's movement as it nears resistance levels at $97,600 and $99,000, with a potential breakout likely to liquidate over $1 billion in leveraged short positions.



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