Dec 2 2024: Bitcoin stabilized at $96,513.2 on Monday after trading between $90,000 and $100,000 for the past two weeks. The cryptocurrency remains near its all-time high of over $99,000, though recent momentum has slowed amid profit-taking and anticipation of clearer U.S. policy directions under President-elect Donald Trump.
Trump’s pro-crypto stance, including proposals such as a Bitcoin Strategic Reserve, has fueled optimism. His key appointments, including pro-crypto candidates for Treasury Secretary and Commerce Secretary, have bolstered expectations of favorable regulation.
XRP Shines Amid SEC Speculation
XRP surged 33% to $2.46, surpassing Tether to become the third-largest cryptocurrency by market capitalization at $140.13 billion. The rise is driven by speculation that a leadership change at the SEC, with Chair Gary Gensler stepping down, may result in the dismissal of its lawsuit against Ripple. Reports also suggest Trump may shift crypto oversight from the SEC to the CFTC, which is perceived as less stringent.
Altcoin Performance Mixed
Ether, the second-largest cryptocurrency, dipped 0.5% to $3,667.0. While Polygon gained 4.3%, Solana and Cardano saw declines of 3% to 5%. Meme token Dogecoin rose 2%.
Broader crypto markets remained rangebound as traders awaited further clarity on regulatory policies, tempered by concerns over potential tariffs Trump threatened to impose on BRICS countries.
