Before Trump’s inauguration, Bitcoin reached a new all-time high above $109,000
Ahead of Donald Trump's inauguration as President of the United States, the price of Bitcoin surged more than 6 percent in a minute, hitting new highs.
Bitcoin (BTC) surged above $109,000 on January 20, well above the $108,000 high recorded on December 17, 2024.
According to data from TradingView, BTC hit a new high of $109,036 at 6:55 am UTC before falling below $108,000 for the minute.
Bitcoin 24-hour price chart with new ATH. Source: TradingView
According to CoinGecko data, Bitcoin was traded at $108,342, up 3% in the last 24 hours.
Before Trump was sworn in as POTUS, Bitcoin made a new ATH
Bitcoin hit a new high just hours before Trump was scheduled to be sworn in as the 47th President of the United States at 4:00 pm UTC.
Trump's inauguration is a major catalyst for bullish action in cryptocurrency markets. His Nov. 6 presidential victory ignited a massive crypto rally, which sent Bitcoin soaring above $100,000 as early as December 2024.
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The hype surrounding the Trump presidency in the crypto community is mostly related to the highly anticipated crypto-related plans, including a strategic Bitcoin stockpile for the US and the expected crypto-regulation.
In the first 100 days of Trump's presidency, BTC stock is likely high.
Bitcoin's latest record high comes as speculation that Trump will establish a strategic BTC reserve within his first 100 days in office has surged.
US BTC reserve odds in Trump's first 100 days showed high volatility on crypto-based forecasting platform Polymarket before BTC hit new highs.
Soon after Polymarket took office, Trump created a strategic bitcoin stockpile, and his chances skyrocketed. Source: Polymarket
Odds on Polymarket began to climb at 5:30 am UTC, reaching a 69% high at 6:30 am UTC, just minutes before the BTC price spike.
Trump started selling memecoin, the official TRUMP coin, which launched on January 18. The TRUMP token, which launched on January 17, has seen record-breaking growth, possibly increasing Trump's net worth by 5x.
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