PANews reported on December 5 that according to CoinDesk, Bitcoin (BTC) rose 3.2% in U.S. trading on December 4, reaching a high of $99,177, close to breaking through the important psychological mark of $100,000. Trading data showed that the price of BTC on Coinbase was $300 higher than that on Binance, indicating that strong demand from U.S. investors drove the rally.

The price fluctuations occurred after Fed Chairman Powell compared Bitcoin to "digital gold" and called it a competitor to gold . In addition, former US President Trump's nomination of Paul Atkins, who is considered to support cryptocurrency, as SEC Chairman may also boost market sentiment. Analysts believe that Bitcoin may need multiple attempts to break through the $100,000 mark.