Investing.com– Bitcoin rose for a seventh straight session on Monday, rebounding from a year-end slump as investors cautiously await clues about the U.S. regulatory outlook before President-elect Donald Trump takes office this month.
it rose 1.1% to $99,513.7 by 01:35 ET (0635 GMT).
This price movement is part of a broader crypto trend, with Bitcoin experiencing a 6% appreciation over the past week.
In December 2024, Bitcoin reached an all-time high of $108,244.9, driven by increased institutional adoption and expectations of a strategic reserve under the Trump administration.
However, prices fell sharply in the final two weeks of 2024 amid profit-taking as the U.S. central bank’s hawkish rate outlook fueled liquidity concerns.
Analysts remain optimistic about Bitcoin’s future performance. HC Wainwright predicts that Bitcoin could reach $225,000 by the end of 2025, citing historical price cycles, regulatory expectations and increasing institutional adoption as key factors.
However, some warn that the future value of Bitcoin could rise to more than $125,000 or fall to $77,000 in the first quarter of 2025, influenced by the actions of President-elect Donald Trump.
Elon Musk’s ‘X Money’ plans have fueled speculation about the inclusion of cryptocurrencies
Elon Musk’s ambitious vision for X, formerly known as Twitter, is set to introduce “X money”. Scheduled to launch in 2025, X Money aims to integrate digital payments directly into the platform.
Last week, X CEO Linda Yaccarino announced that payments would be introduced to the social media platform in 2025 under the tagline “X Money,” along with a host of other features, urging people to “buckle up” for what’s to come.
The confirmation fueled intense speculation that the platform could integrate or support Bitcoin, other cryptocurrencies or dollar-pegged stablecoins.
These stablecoins use crypto technology to make transactions faster and more profitable. Namely, Elon Musk’s space exploration company, SpaceX, has recently been linked to the leading USDT stablecoin, adding further intrigue to the potential role of crypto in the X Money ecosystem.
This integration could significantly improve Bitcoin’s utility and adoption, aligning with Musk’s longtime advocacy of digital currencies.
Cryptocurrency price today: Most altcoins rise but remain under pressure
In the broader cryptocurrency market, Bitcoin’s performance continues to influence other digital assets.
The world’s No. 2 cryptocurrency rose 0.8% to $3,669.04.
The world’s No. 3 cryptocurrency rose 0.3% to $2.4130.
fell 0.9%, while it gained 0.4%. fell 0.3% lower. Among meme tokens, it lost 1%.
