Bitcoin has rebounded to $96,000 after a rocky week, gaining 5.8% in the past 24 hours, according to CoinGecko. The surge comes amid reports that President-elect Donald Trump may issue a pro-crypto executive order after his inauguration, potentially forming a crypto council and easing regulations on banks holding cryptocurrencies.

The recovery follows a significant dip earlier this week, where Bitcoin touched $90,000, its lowest since November. Analysts attribute the drop to concerns over potential delays in Federal Reserve interest rate cuts, sparked by strong employment data. Lower interest rates typically bolster asset prices, fueling investor optimism.

Bitcoin ETFs also faced sustained outflows, with investors withdrawing $569 million on January 8 alone, adding pressure to the market. However, Bitcoin’s robust rally underscores its resilience amid policy speculation and shifting macroeconomic factors.

While Bitcoin remains 11% below its December peak of $108,000, this bounce-back highlights renewed investor confidence. The anticipated pro-crypto stance from the incoming administration could further enhance market sentiment, making Bitcoin a focal point for traders eyeing long-term opportunities.

As always, this article is for informational purposes only and does not constitute financial or investment advice.