Bitcoin's Post-Election Rally Continues to Stall — Market Talk
Bitcoin edges higher but stays stuck below $100,000 as the sharp rally seen after Trump's presidential election victory in November continues to stall. The cryptocurrency has been trading within a relatively tight range in recent weeks. It reached record highs last month amid optimism over Trump's crypto-friendly stance but has since consolidated. However, some analysts see scope for renewed upward momentum. "As Bitcoin starts to break away from traditional assets and macro conditions improve, like a reversal in money supply contraction, there's potential for fresh momentum," Innovating Capital's Anthony Georgiades says in a note. Bitcoin rises 0.5% to $98,665, having reached an all-time high of $109,071 on January 20, according to LSEG. ([email protected])