Crypto execs funneled millions in donations to swing this election, and now their man is in charge. Here’s how Donald Trump’s “crypto cabinet” could shape the next four years.

The fall comes after the cryptocurrency experienced a meteoric rise, fueled in part by the reelection of Donald Trump.

On Tuesday, the price of bitcoin returned above $97,000, as as speculation swirled within the crypto industry about a potential executive order on cryptocurrency during the first day of Donald Trump’s second presidency.

On Wednesday, the price of bitcoin continued rising, surging to over $99,000 as it looked poised to return to the $100,000 mark, driven by new inflation data. Minutes after the U.S. Bureau of Labor Statistics unveiled new data from the Consumer Price Index, bitcoin’s price jumped by $1,500, representing a 2% price improvement for the day.

Bitcoin has changed direction after weeks of retreat during which crypto investors dumped risky assets. The cryptocurrency rose 4% in the past 24 hours to $100,000 immediately following the release of closely-watched inflation data.

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