Cryptocurrencies started the year on a positive note, recovering from recent downturns as market optimism resurfaced.

Bitcoin rose 3% on Thursday, reaching US$97,234.80, up nearly 4% since Wednesday.

The CoinDesk 20 index also saw a rise of over 3%.

Solana, an Ethereum competitor, increased by nearly 7%, while shares of Coinbase and MicroStrategy each gained 3.5%.

The crypto industry enters 2025 with optimism, driven by hopes for a more favorable regulatory environment and potential new legislation on stablecoins or market structure.