Bitcoin Hits Record High Amid Concerns Over Market Manipulation and U.S. Policy Shifts

The cryptocurrency's rise past $106,000 is linked to speculative trading, unregulated markets, and the incoming Trump administration's pro-crypto stance.

Bitcoin's price surged past $106,000, driven by speculative trading and optimism surrounding the pro-crypto policies of President-elect Donald Trump.
The Trump administration is reportedly considering a controversial proposal for a U.S. strategic bitcoin reserve, raising concerns about potential benefits to the crypto industry over ordinary citizens.
Market manipulation, including unregulated practices on offshore exchanges like Binance, and the issuance of questionable stablecoins such as tether, are fueling skepticism about the cryptocurrency's valuation.
The Hawk Tuah meme-coin collapse, which resembled a pump-and-dump scheme, further damaged crypto's reputation as a space rife with fraud and financial risk for retail investors.
Experts warn of broader economic risks, including inflation and stagflation, as the Federal Reserve prepares for potential interest rate cuts in a challenging economic environment.