Bitcoin Surpasses $100,000 Following Trump’s SEC Nomination

Bitcoin Surpasses $100,000 Following Trump's SEC Nomination.

Bitcoin Surpasses $100,000 Following Trump’s SEC Nomination: Prices skyrocketed past $100,000 due to SEC possibilities: Trump will nominate pro-Bitcoin Paul Atkins to head the SEC. The cryptocurrency reached its highest level in a week after declining from $69,374.01 on November 5 to $103,308.27 on Wednesday. This rise was in sync with positive global market sentiments, and most Asian shares were on the rise, boosted by a record rise on Wall Street. The South Korean market experienced a volatile time, with the Kospi falling by 0.6%. 

It was affected by political instabilities after President Yoon Suk Yeol declared martial law but later rescinded the order. On the other hand, Tokyo’s Nikkei 225 and Australia’s S&P/ASX200 index gained 0.3 percent and 0.2 percent, respectively. The Shanghai Composite in China rose by 0.3%, and the Hang Seng in Hong Kong fell by 1.0%.

Bitcoin Surpasses $100,000 Following Trump's SEC Nomination.

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Significant performance improvements were made in the American technology sector stock market, particularly in artificial intelligence stocks. Salesforce’s 11% increase also propelled the market, while Nvidia—the beneficiary of the AI craze—was up 3.5%. The S&P 500 also remained upward and rose 0.6%, reaching its highest 56 times in 2018. 

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Retailers have provided a mixed picture of U.S. consumers; the inflation is still high while the job market is slowing down. Markets are expecting the U.S. jobs data on Friday, with more data on the economy set to be given, especially if and when the figure is released.

As Wall Street now anticipates additional cuts in interest rates by the Federal Reserve, their view toward Trump’s inflation/tariff policies has subtly changed. Oil prices slightly rose; U.S. crude oil was trading at $68.55 a barrel, while the U.S. dollar retreated slightly against the Japanese yen and the euro.

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