This illustration taken on November 25, 2024 shows the cryptocurrency Bitcoin.
Givenruvich | Reuters
Cryptocurrencies have started the year higher, rebounding from recent losses as investor optimism returns to the market.
The price is Bitcoin It rose 3% on Thursday to $97,426.02, bringing the New Year’s gain to about 4% since Jan. 1.
The CoinDesk 20 index, which measures the broader cryptocurrency market, rose 4%. Bound token Solanapopular Ethereum Its rivals led the way with a 7.5% gain. crypto stocks Coin library and micro strategy rose 4% and 5% respectively.
Bitcoin rebounds at the start of the year
This year is expected to be a banner year for the crypto industry as President-elect Donald Trump promises a more favorable regulatory environment. Investors are hoping Congress will pass the first-ever cryptocurrency-focused legislation — legislation that could center on stablecoins or market structures.
Traders are also keen to see crypto public equity markets opening up, with more initial public offerings and progress on a potential national strategic Bitcoin reserve.
Cryptoassets slide into late 2024. Long-term holders took profits and others sold amid renewed uncertainty over the direction of the Fed’s rate cuts in 2025.
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