Bitcoin is edging closer to the $100,000 milestone as investor confidence grows around potential crypto-friendly changes in U.S. financial regulations. On Thursday, the cryptocurrency hit $97,361 before settling at $95,640 during early Asian trading.

Price Surge Reflects Renewed Confidence

The recent price jump is Bitcoin’s largest in two weeks, signaling a renewed wave of optimism among investors. The surge is attributed to speculation that pro-crypto leaders could soon take charge of key U.S. regulatory bodies.

Reports suggest that candidates supportive of digital assets may lead the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). These agencies play pivotal roles in shaping U.S. financial market policies.

Favorable Regulations Could Drive Growth

The prospect of regulatory clarity is fueling enthusiasm within the crypto community. Clearer rules could attract institutional investment, boost market sentiment, and legitimize cryptocurrencies like Bitcoin further.

U.S. Poised to Embrace Crypto Innovation

Advocates believe the growing influence of pro-crypto leaders in Washington could make the U.S. a hub for cryptocurrency innovation. Such developments are seen as pivotal in driving Bitcoin toward and beyond the $100,000 mark.

As the digital asset market thrives, all eyes are on the unfolding regulatory landscape and its implications for the future of Bitcoin and other cryptocurrencies.