Cryptocurrencies start the week higher, with Bitcoin jumping above $102,000 | Wilnesh News

Bitcoin prices rebounded above $100,000, kicking off the first full trading week of the new year.

The flagship cryptocurrency was last up around 4% at $102,234, according to Coin Metrics. The broader cryptocurrency market, as measured by the CoinDesk 20 index, rose more than 3%. Bitcoin and ether is having its best week since December 6th, and Solana It was the best week since November 22nd.

crypto stocks Coin library and micro strategy rose nearly 8% and 6% respectively. MicroStrategy reported Monday morning that it had purchased an additional 1,070 Bitcoins for approximately $101 million, bringing its total holdings to 447,470 Bitcoins.

The move in cryptocurrencies coincides with a rally in technology stocks, as shares of Nvidia and other chip companies rise. High-tech Nasdaq It was last up about 1.9%.

After the post-election rally, activity in cryptocurrency markets is returning, driven by the promise of a more supportive regulatory environment. This optimism caused prices to surge for weeks before cooling off at the end of the year. Under the new administration, the price of Bitcoin is expected to double this year, with some price predictions (such as that of Fundstrat’s Tom Lee) reaching as high as $250,000.