Bitcoin Slips After Approaching $100K: Profit-Taking Stalls Rally

Bitcoin’s price pulled back from the highly anticipated $100,000 milestone as investors cashed in on gains following a strong post-election surge. The cryptocurrency dropped 2.5% to $92,313.34.

The $100,000 mark, long viewed as a psychological barrier, has proven challenging to surpass, with many market participants expecting some consolidation before any further upward momentum.

Despite the dip, Bitcoin has surged more than 30% since the U.S. presidential election on November 5, which brought Donald Trump back to the White House. His pro-crypto policy platform has reignited enthusiasm for digital assets, particularly as he prepares to overhaul leadership at the U.S. Securities and Exchange Commission (SEC).

SEC Chair Gary Gensler, known for his aggressive approach to crypto regulation, is set to step down on January 20, coinciding with Trump’s inauguration. Market optimism is building around potential regulatory changes that could foster a more crypto-friendly environment.

As institutional interest and retail activity continue to grow, Bitcoin’s recent pause may serve as a stepping stone for its next push toward record highs.