Bitcoin reaches $102,000 before slipping at 8 am, data shows
Bitcoin briefly reached $102,000 on January 17 before dropping to $101,000. Its market dominance is 56.36%. Reports suggest Trump may designate cryptocurrency as a national policy priority with an upcoming executive order.
The world's largest cryptocurrency Bitcoin briefly touched the $102,000 mark, at 8 am today, on January 17, before slipping back to around $101,000 levels, according to data on coinmarketcap.
This comes after the token sat below $100,000 levels for most of yesterday, January 16, 2025.
Bitcoin’s dominance in the cryptocurrency market on January 17 is currently 56.36 per cent — still the top but a decrease of 0.12 per cent over the day, as per Coinmarketcap.
Crypto Market Sees Increase
The data showed that the global cryptocurrency market capitalisation is $3.57 trillion on January 17, a 2.20 per cent increase over the last day. Further, the total crypto market volume over the last 24 hours is $157.63 billion, which makes a 0.02 per cent decrease, it added.
The push for Bitcoin likely came after reports that United States President-elect Donald Trump plans to release an executive order designating cryptocurrency as “national policy priority”, according to a Bloomberg report.
Donald Trump to Designate Crypto ‘National Priority’
Bloomberg citied sources who said Trump is planning to release an executive order elevating crypto as a policy priority and giving industry insiders a place in his upcoming administration.
What will this order do? It is expected to term crypto as a national imperative or priority — wording aimed to guide government agencies to work with the industry, the sources added. It will also enable the creation of a crypto advisory council to advocate for the industry’s policy priorities, they added.
The executive order is still under discussion, but could signal to all government agencies to review policies about digital assets and possibly pause any litigation involving crypto, the sources pointed out.
While the sources added that this move could come as soon as January 20, nothing is finalised. Trump's representative did not respond to queries, the report added.
(With inputs from Bloomberg)
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