Euro Staggers as Bitcoin Surges Past $100,000 Amid French Political Turmoil

As the French government faces collapse, the euro struggles amid economic uncertainty. Meanwhile, Bitcoin has eclipsed $100,000, driven by expectations of favorable U.S. regulations under Donald Trump. Traders anticipate further volatility in European markets, while Asian and U.S. financial dynamics reflect mixed economic signals and cautious investor sentiment.

Amid the fallout from France's government collapse, the euro remains subdued, reflecting anxiety over Europe's second-largest economy. Meanwhile, Bitcoin has broken the $100,000 barrier for the first time, buoyed by hopes that a Trump administration will support a friendly regulatory landscape for cryptocurrencies.

Bitcoin rose as high as $101,626 in Asian trading hours, marking a 138% gain this year. Senior analyst Kyle Rodda notes that reduced regulatory risk, U.S. fiscal concerns, and geopolitical instability provide ongoing support for the cryptocurrency's rising prices.

French political disarray may prolong, impacting economic stability, while ECB's potential interventions remain uncertain. In parallel, Asian currencies like the South Korean won experience turbulence due to local political upheaval, and global markets remain alert to potential interest rate changes in Japan and the U.S.

(With inputs from agencies.)