MARA Holdings, a leading Bitcoin mining company, witnessed a significant 5.93% surge in its stock price during the pre-market trading session on Wednesday. This upward movement coincided with the broader cryptocurrency market's momentum, as Bitcoin climbed closer to the $97,000 mark, recording a 2.18% increase over the past 24 hours.

The rally in MARA Holdings' shares appears to be fueled by investor optimism surrounding Bitcoin's price recovery and speculation around the potential impact of upcoming US inflation data on monetary policy. Market participants are closely watching the Consumer Price Index (CPI) report, expected later on Wednesday, as it could influence expectations for future interest rate decisions by the Federal Reserve.

Moreover, the market's anticipation of a crypto-friendly regulatory environment under the incoming Trump administration has further bolstered sentiment in the digital asset space. Reports suggest that Trump may appoint acting chairpersons at the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), potentially paving the way for more supportive policies for the cryptocurrency industry.