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Bitcoin rejoined the crypto rally on Friday amid reports that he is president-elect Donald Trump could issue an executive order that would make cryptocurrencies a national priority as soon as the first day of his new term.
The price of the leading cryptocurrency was last seen higher by more than 2% at $103,174.90, according to Coin Metrics. The broader crypto market, as measured by CoinDesk 20 index, rose another 1%, after a 4% gain on Thursday.
Transmission stocks Coinbase and Robinhood each advanced about 5%. Small-cap cryptocurrency trading activity benefits trading platforms. Appetite for smaller-cap, higher-risk coins has grown ahead of Trump’s inauguration, s litecoin up 26% in the last two days.
The moves follow Bloomberg report late Thursday that Trump could create the crypto advisory council he previously promised, giving the industry a voice within his administration. Bitcoin stocks are part of discussions about a possible executive order that would cover several areas of crypto policy, New York Times reported the same day.
Bitcoin is trading above $100,000 ahead of Trump’s inauguration
Coins and crypto projects outside of bitcoin will undoubtedly get more than clear and supportive policy and regulation as they have been the target of more SEC lawsuits and alleged banking discrimination under the Biden administration. Some investors say bitcoin could experience a rocket-ship rise, however, if national reserves or reserves are established.
Bitcoin has traded closely with stocks this year. It has been in consolidation mode since late December, when Federal Reserve Chairman Jerome Powell sounded an inflation alarm that subsided this week after two cool December inflation reports. Bitcoin ETFs have seen more than $1 billion in inflows in the past two days.
Investors expect any announcement from the new administration next week to send bitcoin soaring – potentially to a new record high. The heightened expectations come after warnings from Wall Street this month that while pro-crypto Congress and the 2025 White House will certainly be supportive of industry and asset class innovation, it could be some time before the market feels the impact.
“The new administration and new SEC chairman open the door to new opportunities in cryptocurrency innovation,” JPMorgan analyst Kenneth Worthington he said in a note this week. However, he added, “we don’t see the next wave of cryptocurrency [exchange-traded product] launches as significant for the crypto ecosystem given the much smaller market capitalization of other tokens and far less investor interest.”
Bitcoin’s record is $108,327.01 as of December 17th. It grew by 9% in 2025.
