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

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

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,