Crypto Surge: Bitcoin Eyes Historic $100,000 Amid Trump's Policy Uncertainties

Bitcoin nears $100,000 buoyed by speculation over Donald Trump's potential crypto-friendly regulations. Traders faced uncertainty amid Trump's policy ambiguities and geopolitical tensions. The dollar held steady against global currencies, influenced by expectations on U.S. interest rates and potential trade tariff hikes impacting Europe and China.

On Thursday, Bitcoin continued its meteoric rise, edging closer to the unprecedented $100,000 mark, as speculation mounts over President-elect Donald Trump’s potential to create a favorable regulatory environment for cryptocurrencies.

While Trump's policies remain uncertain, the dollar remained stable with the dollar index near last week's high. Currency strategist Moh Siong Sim noted the uncertainty due to Trump's ongoing cabinet formation, affecting markets worldwide.

Meanwhile, European political uncertainties and rising tensions in Ukraine influenced global markets. The yen outperformed other currencies following geopolitical escalations, while traders weighed potential shifts in U.S. interest rates sparked by anticipated Trump policy changes.

(With inputs from agencies.)