Crypto Surge: Bitcoin Nears $100,000 as Dollar Strengthens

Bitcoin soars towards a record high, nearing $100,000 amid speculations of a favorable regulatory environment under U.S. President-elect Trump's administration. Meanwhile, the dollar steadies as markets anticipate Trump's policies, with geopolitical tensions impacting currency dynamics globally.

Bitcoin is approaching a landmark achievement, nearing a valuation of $100,000, amidst increasing speculations about a possible favorable regulatory environment from U.S. President-elect Donald Trump's administration. This development has led to a significant rally in recent weeks, with Bitcoin hitting $97,902 on Thursday. The surge was further fueled by reports of Trump's social media company considering acquiring the crypto trading firm Bakkt.

Meanwhile, in the currency markets, the dollar held steady as traders eagerly awaited more clarity on Trump's proposed economic policies. The dollar index inched upward to 106.72, remaining near last week's peak, while reflections on potential tariff hikes added complexity to Europe's geopolitical landscape, compounded by political uncertainties in Germany and France.

As global geopolitical tensions rise, notably with escalating conflicts involving Ukraine and Russia, market dynamics are notably impacted. The Japanese yen has emerged strong amidst this turmoil, outperforming in recent currency trades. Despite speculative waves affecting traders, the broader sentiment remains cautious, balancing the prospects of policymakers' actions and current fiscal uncertainties.

(With inputs from agencies.)