Bitcoin Breaks $100k Amid Political and Economic Turmoil

Bitcoin surged past $100,000 amidst the collapse of the French government, enhancing global economic uncertainties. Meanwhile, other currencies displayed mixed reactions, with focus shifting towards central banks' potential rate adjustments. The euro remained cautious, and geopolitical tensions added more pressure on financial markets.

Bitcoin has surged past the $100,000 mark, as political and economic anxieties ripple across global markets. The French government's collapse stoked concerns about the eurozone's second-largest economy, while Bitcoin's skyrocketing value highlights the growing popularity of cryptocurrencies amidst regulatory optimism post-Trump's electoral victory.

In currency markets, the euro was cautiously steady amid France's ongoing political turmoil, while analysts brace for potential impacts from weakened economic growth forecasts in the eurozone. ECB President Christine Lagarde made no commitment about intervention despite heightened market volatility.

In Asia, the yen strengthened while speculation swirled about the Bank of Japan's upcoming rate decision. However, the South Korean won remains weak, exacerbated by internal political strife. Investors in the U.S. held hopes for a rate cut, anticipating upcoming employment data to reaffirm economic resilience.

(With inputs from agencies.)