Bitcoin approaches $100,000 as regulatory changes spark optimism

Bitcoin is nearing the $100,000 mark, currently priced at $99,500. This represents a significant increase from around $30,000 a year ago, driven by optimism following Donald Trump's reelection and substantial investments in Bitcoin exchange-traded funds. China has recently legalized cryptocurrency, which may influence other countries to adopt similar policies. In the U.S., regulatory clarity under Trump's administration is expected to further boost Bitcoin's adoption among investors and institutions. If Bitcoin reaches $100,000, it could lead to the liquidation of nearly $1 billion in short positions, potentially causing rapid price movements. While some profit-taking may occur, the overall sentiment for Bitcoin remains positive in the long term.