The largest cryptocurrency has been volatile ahead of the holidays, falling back following its march toward the key $100,000 level.

Bitcoin's price premium on Coinbase rebounded after flipping negative during the recent pullback, suggesting that American traders may be driving the rally.

The president-elect has vowed to undo a crackdown on digital assets imposed by the Biden administration and instead foster industry growth, including setting up a national Bitcoin stockpile. The Republican's pledges ignited a wave of optimism that lifted the token to within a whisker of a record $100,