bullish

Chair

Wednesday

Gary

Bitcoin’s price smashed through $100,000 late Wednesday night, setting a new all-time high that has Wall Street analysts excited. 
The apex crypto, which peaked at $103,844 before pulling back slightly to $101,000, is now being hailed as a key indicator for broader market trends. Fundstrat’s Tom Lee believes it signals a bigger move ahead for the U.S. stock market, which is already seeing record highs. 
Bitcoin is now up more than 140% this year and has surged 45% since the U.S. election. Investors are piling in, betting that President-elect Donald Trump’s administration will continue to deliver on its promises to support the crypto industry. 
Lee predicts the S&amp;P 500 could climb to 6,300 before the year’s end, urging investors to buy during market dips. “Investors are pro-risk,” he said. 
<h3 id="span-style-font-weight-400-trump-s-pro-crypto-agenda-drives-market-confidence-span">Trump’s pro-crypto agenda drives market confidence</h3> 
Trump has wasted no time reassuring crypto investors. On Wednesday, he announced his plan to nominate Paul Atkins as the next chair of the Securities and Exchange Commission (SEC). Atkins, a well-known crypto advocate, is expected to roll back the strict enforcement tactics of outgoing <a href="https://www.cryptopolitan.com/trump-appoints-paul-atkins-as-sec-chair/">SEC Chair</a> Gary Gensler. 
Under him, the SEC adopted a regulation-by-enforcement strategy that made the crypto industry a prime target for fines and lawsuits. Trump’s decision to nominate Atkins aligns with his campaign promise to overhaul crypto regulations and launch a strategic national crypto stockpile. 
The news electrified Bitcoin enthusiasts. Trump even took to Truth Social Thursday morning to <a href="https://www.cryptopolitan.com/scaramucci-buying-trump-gift-for-bitcoin/">celebrate the milestone</a>. “You’re welcome,” he posted, crediting his campaign promises and policies for helping Bitcoin reach $100,000. Trump added that this is just the beginning. 
Tom Lee <a href="https://www.cnbc.com/2024/12/05/fundstrats-tom-lee-thinks-the-bitcoin-rally-above-100000-is-a-bullish-signal-for-stocks.html" rel="nofollow noopener" target="_blank">sees</a> Bitcoin’s rally as a reflection of investor confidence in Trump’s pro-business and deregulation agenda. Small-cap stocks are also expected to benefit from the Federal Reserve’s interest rate cuts, which are likely to boost liquidity and drive more risk-taking. 
<h3 id="span-style-font-weight-400-stock-markets-ride-the-bullish-wave-span">Stock markets ride the bullish wave</h3> 
Stock futures traded near flat levels Friday morning as investors awaited November’s labor market data. Futures tied to the Dow Jones Industrial Average dipped 0.1%, while S&amp;P 500 and Nasdaq 100 futures remained steady. 
Analysts expect the nonfarm payrolls report to show 214,000 new jobs in November, a sharp increase from October’s dismal 12,000. This labor market strength is likely to play a role in the Federal Reserve’s upcoming December meeting, where policymakers will decide on <a href="https://www.cryptopolitan.com/federal-reserve-chair-says-fed-not-rush/">interest rates</a>. 
Despite the flat trading session, this week has been positive for equities. The S&amp;P 500 is up 0.7%, while the tech-heavy Nasdaq Composite has gained 2.5%. The Dow, however, is down 0.3% as profit-taking continues in some sectors. Meanwhile, corporate earnings are adding fuel to the bullish sentiment. 
Once dismissed as a speculative bubble, the cryptocurrency is now seen as a serious asset class. Institutional investors are increasingly embracing <a href="https://www.cryptopolitan.com/bitcoins-aggressive-100k-rise-will-bring-out-the-holiday-effect/">Bitcoin</a>, while governments are reevaluating their regulatory stances. 
For crypto enthusiasts, Bitcoin’s ascent to $100,000 feels like vindication after years of boom-and-bust cycles and resistance from traditional financial institutions. 
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Wall Street bulls hail Bitcoin’s $100K surge as a bullish indicator

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