Americas Crypto Daybook: Bitcoin's Bull Run Gets Holiday Boost from Penguins

As the year draws to a close, the cryptocurrency market is embracing the holiday spirit, with Bitcoin reaching an all-time high of nearly $108,000 and currently trading around $107,000. The bullish trend, fueled by President-elect Donald Trump's crypto-friendly stance, has been gaining momentum since the US elections in early November. Trump's pledge to create a strategic Bitcoin reserve has contributed to the rally, with some analysts comparing it to MicroStrategy's balance sheet strategy on a national scale. The incoming administration's pro-crypto rhetoric has boosted sentiment, despite the idea of a 'national Bitcoin reserve' remaining speculative. Meanwhile, the Pudgy Penguin ecosystem has introduced its official token, PENGU, which is expected to deepen engagement and reward long-time believers. Other notable developments include Avalanche's network upgrade, Avalanche9000, which makes it cheaper and easier to launch subnets, and Eliza Labs' partnership with Stanford University to research AI agents in Web3. As the holiday season approaches, the markets may face volatility due to growing institutional participation and the Federal Reserve's rate decision on Wednesday.