Investing.com — Bitcoin rose for a seventh straight session on Monday, rebounding from a year-end slump, as investors cautiously awaited clues on U.S. regulatory expectations before President-elect Donald Trump takes office this month.
It rose 1.1% to $99,513.7 by 01:35 ET (06:35 GMT).
This price action is part of a broader trend for cryptocurrencies, with Bitcoin seeing a 6% rise over the past week.
In December 2024, Bitcoin reached an all-time high of $108,244.9, driven by increased institutional adoption and strategic reserve expectations under the Trump administration.
However, prices fell sharply in the last two weeks of 2024 amid profit-taking as the US Federal Reserve's hawkish interest rate outlook raised concerns about liquidity.
Analysts remain optimistic about Bitcoin's future performance. HC Wainwright expects Bitcoin to 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 spark speculation about including cryptocurrencies
Elon Musk's ambitious vision for X, formerly known as Twitter, is set to deliver “X Money.” X Money, scheduled to launch in 2025, 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 “X Money” banner, along with a host of other features, and urged people to “prepare” for what is to come. .
This confirmation has sparked intense speculation that the platform may integrate or support Bitcoin, other cryptocurrencies, or dollar-pegged stablecoins.
These stablecoins leverage cryptographic technology to make transactions faster and more cost-effective. It is worth noting that Elon Musk's space exploration company, SpaceX, recently linked to the leading stablecoin USDT, adding further interest to the potential role of cryptocurrencies in the X Money ecosystem.
This integration could significantly boost Bitcoin's utility and adoption, in line with Musk's long-standing defense of cryptocurrencies.
Cryptocurrency Price Today: Most altcoins are rising 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.
It decreased by 0.9%, while it increased by 0.4%. Decreased by 0.3%. Among tokens, it lost 1%.
