Bitcoin Rockets to $93K with No End in Sight as Bullish Momentum Builds

Bitcoin Reaches a New All-Time High: $93,409

It is highly likely that this week’s rally is largely driven by investor optimism following the election of pro-bitcoin U.S. president, Donald Trump, who has pledged to implement favorable cryptocurrency policies.

The anticipation of regulatory support and the potential establishment of a strategic Bitcoin reserve further fuel this upward momentum.

World Liberty Financial Partners with Chainlink

World Liberty Financial (WLFI), Donald Trump's DeFi project, is partnering with Chainlink to make its financial platform more secure and easy to use across different blockchain networks.

Using Chainlink’s technology, WLFI will access economic data and allow users to borrow and lend assets. This partnership also supports WLFI's goal of making financial tools accessible to more people while keeping transactions private and allowing users to vote on the platform’s decisions.

Bitcoin ETFs Hit $500B Volume Thanks to Trump Win and Crypto Price Surge

U.S. spot bitcoin ETFs have surpassed $500 billion in trading volume, marking a significant milestone highlighting cryptocurrency's expanding role within traditional finance.

Spearheaded by BlackRock’s IBIT ETF, which recorded an impressive $5.2 billion in daily trading this week, these funds have seen a surge in capital inflows. This ETF momentum has been further fueled by Donald Trump’s recent presidential win and bitcoin’s climb to over $90,000.

With nearly $30 billion in net inflows and $89 billion in assets under management, bitcoin ETFs are swiftly establishing themselves as formidable players, rivaling some of the most prominent ETFs and signaling a transformative shift in the financial landscape.

Trump Pushes Tax-Free Gains on U.S. Crypto to Make America Global Hub

Rumor has it that President Trump aims to eliminate capital gains taxes on cryptocurrencies issued by U.S. companies.

This immediately makes profit from holding these assets tax-free for Americans. The potential policy, part of a broader push to position the U.S. as a global crypto hub, includes provisions to attract international crypto businesses to relocate to the U.S. If this is true, it would significantly enhance the attention to crypto in the U.S.

Pro-Crypto Trump Team Faces Pushback as Gensler Stalls and Powell Refuse to Quit

President-Elect Donald Trump has unveiled a pro-crypto team, featuring prominent figures like Vivek Ramaswamy and Tulsi Gabbard, signaling a significant shift in his administration’s stance on cryptocurrency.

Meanwhile, the current administration is pushing back, with recent actions like the FBI raiding Polymarket’s founder's home. Also, Fed Chair Jerome Powell recently stated he will not step down in response to the new administration while SEC Chairperson Gary Gensler dropped a hint regarding his potential resignation.