Bitcoin steadied after a rally toward $100,000 stalled just below the milestone, with traders assessing whether optimism fueled by President-elect Donald Trump’s support for crypto is overblown.
The digital asset briefly dipped to $95,776 on Sunday but rebounded to $98,065 by Monday morning.
While Trump’s support for crypto, including promises of friendlier regulations and a national Bitcoin stockpile, has boosted market sentiment, some investors worry the rally is peaking, Bloomberg has reported.
Analysts suggest Bitcoin may experience consolidation around the $100,000 level before any further gains.
Written by B.C. Begley
