US equity futures traded within narrow ranges on Thursday as investors took a pause from the record-breaking rally that has characterized recent market activity. Amid this quieting in stocks, Bitcoin made headlines by surging above the $100,000 mark for the first time. The cryptocurrency climbed as much as 6.1%, bolstered by news that President-elect Donald Trump had selected a prominent crypto proponent to lead the Securities and Exchange Commission (SEC).
Trump’s embrace of digital assets, particularly his choice for the SEC head, has injected optimism into the cryptocurrency space. The news sent shares of companies with heavy exposure to cryptocurrencies, such as Coinbase Global Inc., Riot Platforms Inc., and MARA Holdings Inc., higher in premarket trading.
Bitcoin’s dramatic rise past $100,000 signals growing confidence in the digital asset market, driven in part by the anticipated regulatory changes under Trump’s administration. As the crypto market continues to gain traction, the move also highlights the broader shift toward digital assets as mainstream investment options.
