BTC/EUR. Eyeballing across the €100'000 roof

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Bitcoin robustly pumped to $100,000 and above for the first time on Wednesday, December 4, 2024 surging to a new record after President-elect Donald Trump unveiled administration picks seen as holding the keys to ushering in crypto-friendly policies when he takes office in January.

Chief among the picks is Paul Atkins, whom Trump intends to nominate to lead the Securities and Exchange Commission (SEC), which regulates cryptocurrency.

Atkins, know in social media as a crypto advocate and former SEC commissioner, is expected to regulate cryptocurrency with a lighter touch than Gary Gensler, who leads the commission under the Biden administration. Gensler, who aggressively fought the industry’s expansion in the US, is set to resign on Inauguration Day.

Bitcoin touched $100,000 just hours after Atkins was announced as Trump’s choice for SEC chair.

This is all right with the new milestone (counted in greenback), built on the stunning rally since Trump won the presidency throne on November 6, which fueled a $6,000 one-day spike in bitcoin that brought it to a new record above $74,000. A week later, it hit $90,000.

By the way.. The main technical graph for BTC/EUR BTCEUR says €100'000 milestone has not been passed through yet to this time.

While talks are talking, last exam is not passed yet. Macro data still stoke fears over a possible recession and the notion that the Federal Reserve could be too slow with cutting interest rates. Non-farm payroll added just 12K new places last month.

Fresh labor market data is on the radars on Friday, Dec 06 (+202K non-farm payroll forecasted).

Sure, there is "no guarantee", though.. until last exam is not passed yet.

In case of success only, we can talk about further growth towards 150 thousand euros.