Bitcoin Reports suggest the president-elect rejoined cryptocurrency rallies on Friday Donald Trump An executive order may be issued on the first day of his new term to make cryptocurrencies a national priority.

The price of the flagship cryptocurrency was recently up more than 4%, reaching $104,792.59, according to Coin Metrics. The broader crypto market to Coin table 20 The index rose 2% after rising 4% on Thursday.

Shares of exchange operators Coin Library and Robin Hood Up about 5% and 4% respectively. Trading activity in small-cap cryptocurrencies favors trading platforms. Demand for small-cap, high-risk tokens has grown ahead of Trump’s inauguration, Litecoin It has surged 26% in the past two days.

The moves follow Bloomberg Report Late on Thursday, Trump was likely to establish his previously promised cryptocurrency advisory committee to give the industry a voice in his administration. Bitcoin stocks are part of discussions about executive order that could cover multiple areas of cryptocurrency policy, The New York Times reports report same day.

Expectations were further raised after Wall Street warned this month that while a pro-crypto Congress and White House in 2025 will certainly support innovation in the industry and asset class, it may take some time for markets to feel the impact.

Coins and crypto projects outside of Bitcoin would arguably benefit more from clear and supportive policy and regulation, as they become more targets of SEC lawsuits and charges under the Biden administration discrimination in the banking industry. However, some investors say that if national inventories or reserves are built up, Bitcoin could rocket higher.

Bitcoin has been trading closely with stocks so far this year. The market has been in consolidation mode since Federal Reserve Chairman Jerome Powell sounded the inflation alarm in late December, but that alarm subsided this week following the release of two December inflation reports. Bitcoin ETFs have seen inflows of more than $1 billion in the past two days.

Investors expect any announcements from the incoming administration next week to push Bitcoin higher — possibly to a new record.

Expectations were further raised after Wall Street warned this month that while a pro-crypto Congress and White House in 2025 will certainly support innovation in the industry and asset class, it may take some time for markets to feel the impact.

“The new administration and new SEC chairman have opened the door to new opportunities for cryptocurrency innovation,” said JPMorgan analyst Kenneth Worthington. said in a note this week. However, he added, “Given that the market caps of other tokens are much smaller and investor interest is much lower, we do not believe that the launch of the next wave of cryptocurrencies (exchange-traded products) makes sense for the crypto ecosystem. “

Since December 17, Bitcoin’s highest record is $108,327.01. It will rise 9% by 2025.