Cryptocurrencies began the year positively, rebounding from previous losses and benefiting from renewed investor optimism. Bitcoin increased by 2% to $96,711.71, marking a 3% gain since January 1. The CoinDesk 20 index rose 4%, with Solana’s token leading by 7%. Stocks of crypto firms Coinbase and MicroStrategy also climbed by 4%. Anticipation builds for favorable regulatory changes under President-elect Donald Trump and potential crypto legislation from Congress. Despite a late 2024 downturn after record highs, Bitcoin ended the year over 120% up, amidst profit-taking by long-term holders and uncertainty regarding Federal Reserve interest rate policies for 2025.
