BTC/USD: Bitcoin Skids 13% from Record but Still Ends Year More Than Doubling in Price

Orange coin wrapped it up with a 111% increase with the final kick being Donald Trump's pro-crypto outlook. What’s in store for 2025?

• Bitcoin BTCUSD is the lone-wolf asset that’s trading on January 1 while stocks and even the hyperactive forex markets are taking a break. But the cryptocurrency isn’t doing anything special — it’s floating pretty much unchanged to the dollar right around the $93,000 mark, down 13% from its record high. On the bright side, that’s a nice and relaxed way of easing into the new year, which promises to bring lots of volatility and trading opportunities.
• Donald Trump’s incoming administration is packed with pro-crypto billionaires and entrepreneurs who are ready to take it up a notch and vault crypto into the stratosphere. Or at least that’s the plan — the President-elect has teamed up with Elon Musk, David Sacks, Paul Atkins and other digital-asset advocates and they’ll work together to usher in a new era of growth for the novel asset class and its growing user base.
• So that’s looking ahead. Looking back, crypto is exiting a highly successful year with Bitcoin more than doubling with a 111% annual gain. That was also the year when Bitcoin peaked at a record high of $108,000 per token and lifted its market cap to more than $2.1 trillion. With this, market analysts are eager to call the next milestone of $125,000 some time in the near future. But before that, Bitcoin needs to reclaim the six-digit figure, now about 7% away.