Bitcoin and Dollar Dance: Market Awaits Trump's Economic Moves

Bitcoin soared toward $100,000 amidst speculation about favorable regulations under President-elect Trump. The U.S. dollar paused as traders anticipated Trump's policies and potential Federal Reserve interest rate adjustments. Global economic dynamics, including the Russia-Ukraine conflict and Europe's response to Trump's tariffs, added to the market's uncertainty.

The U.S. dollar took a breather on Thursday as traders awaited clarity on President-elect Donald Trump's policies, while bitcoin neared the $100,000 mark amidst a strong rally on hopes of friendlier cryptocurrency regulations.

Bitcoin reached record highs after reports suggested Trump's social media company might acquire crypto trading firm Bakkt. Meanwhile, the dollar index declined slightly but remained near recent highs as investors speculated on the Federal Reserve's interest rate decisions.

Global economic factors, including concerns about Trump's tariff plans impacting Europe and China, added to market unease. Analysts noted increased uncertainty given the evolving dynamics of the Russia-Ukraine conflict and potential implications for European currencies.

(With inputs from agencies.)