Bitcoin climbed to an unprecedented $97,000 as altcoins like Dogecoin (DOGE) and XRP followed with notable gains. Market momentum surged despite the looming SEC lawsuit against Elon Musk, a move linked to allegations of crypto market manipulation. The developments coincide with anticipation for the Trump Inauguration, adding political tension to financial markets.
Traders view the Bitcoin rally as a potential safe haven amidst regulatory uncertainty. Meanwhile, the SEC’s action against Musk has raised concerns over the influence of high-profile figures on cryptocurrency markets. Altcoins mirrored Bitcoin’s rise, with DOGE gaining 12% and XRP climbing 8%, reinforcing optimism among crypto enthusiasts. However, the intertwining of politics and regulation presents a volatile backdrop for the coming weeks.
