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Market-boosting catalysts, from the introduction of spot exchange-traded funds (ETFs) to a presidential election that delivered a crypto-friendly administration to the White House, seemed to occur every few weeks. Shiba Inu (CRYPTO: SHIB), a meme crypto whose developers are pushing hard for respectability, advanced by just under 9%, while Bitcoin (CRYPTO: BTC) fork Bitcoin Cash (CRYPTO: BCH) was trading nearly 6% higher. Speaking of Bitcoin, the leading cryptocurrency was at the heart of this latest rally.

Unconventional investors thrive in crypto, proving success isn’t bound by traditional financial expertise.

Institutional embrace of Bitcoin signals a turning point for cryptocurrency’s future in traditional markets.

A pro-crypto administration signals regulatory changes poised to reshape the blockchain and digital asset industries.

U.S. bankers struck a cautious tone on cryptocurrencies at the Reuters NEXT conference in New York this week, despite expectations that friendlier rules under President-elect Donald Trump will pave the way for lenders to expand into digital assets. Trump courted crypto campaign dollars with promises to be a "crypto president" and end the Biden administration's crackdown on the sector, but banks are nevertheless unlikely to rush head-first into the volatile asset, bankers said. "The regulatory framework has to evolve ... and everyone's speculating as to how that regulatory framework will evolve, but it's still unclear," said Goldman Sachs Chief Executive David Solomon.

A previous proposal looked at increasing the capital gains tax on crypto from 26% to 42%.

Bitcoin (CRYPTO: BTC) is once again trading above $100,000, which is a critical psychological level for traders. As of 3 p.m. ET, in the past 24 hours alone, Bitcoin is up 5.3%, Ethereum (CRYPTO: ETH) has jumped 5.2%, and Dogecoin (CRYPTO: DOGE) is up 7.9%. The Bureau of Labor Statistics announced this morning the closely watched Consumer Price Index (CPI) was up 2.7% from a year ago, 0.1% higher than in October, but in line with estimates.