Bitcoin Reaches Record High Near $100,000

Bitcoin's price surged toward the $100,000 mark, reaching as high as $96,898 amid optimism surrounding President-elect Donald Trump's pro-cryptocurrency policies. The cryptocurrency has more than doubled this year, fueled by the election of pro-crypto lawmakers and over $4 billion inflow into U.S. Bitcoin ETFs post-election. Analysts note that while Bitcoin is currently in 'overbought' territory, the bullish sentiment could drive it towards $106,000 if momentum persists. However, some caution exists regarding potential price pullbacks as traders monitor key support levels at $85,000 and $81,000. The broader crypto market has seen significant gains, with stocks tied to Bitcoin also rising sharply. Despite the excitement, experts warn it may be too soon to expect regulatory clarity from the incoming administration, as discussions on a potential White House role for crypto advisors are ongoing.