$Bitcoin (BTC.CC)$ Aiming once again for the $0.1 million milestone, ending the longest decline since the record rise of this largest crypto triggered by Donald Trump's victory in the usa elections.

Since the U.S. election, Bitcoin has risen by about 40% as traders expect a more crypto-friendly regulatory environment with Trump's support for the crypto industry. The token reached a new high of $99,728 last Friday, then fell over the past four days. On Wednesday, Bitcoin briefly rose by 6% to $97,361. Bitcoin has more than doubled so far this year.

Wintermute's OTC trader Jake Ostrovskis said, "The market is in a price discovery phase. After rising more than 45% from the lows before the election, the recent decline over the past few days appears to be a healthy pullback. It might be driven by profit-taking. Traders believe that the $0.1 million level is likely to be broken."

Director Nikolay Karpenko of B2C2 stated that Bitcoin fell earlier this week, partly due to profit-taking as the price approached the historical milestone. He said this is tactical, and Bitcoin may soon break through $0.1 million.

Karpenko said, "When bitcoin approaches the five-digit mark, we believe this may trigger some profit-taking from market participants who bought in before the election."

Earlier this week, after Trump announced the possibility of imposing additional tariffs on China, Mexico, and Canada, the market also experienced some fluctuations.

Alex Thorn, research director at Galaxy Digital, said, "Once some leverage is released, short-term buyers take profit, we believe bitcoin may find strong support and may attempt to break the $100,000 mark again in the short term (sell wall)."

As of the time of writing, bitcoin is priced at 95,877 USD, up 4.3% for the day; ethereum is priced at 3,679 USD, up 10.7% for the day.

Editor/new