Bitcoin Visits All-Time High Near$ 109,000 Back of Trump Opening

The price of price of Bitcoin has hit yet another all-time high of just under$ 109,000, amid widespread optimism in the crypto industry as Donald Trump’s inauguration as U. S. President draws near.

Bitcoin has retreated slightly from its new all-time high of$ 108,786, per CoinGecko, and now sits at$ 107,949, up 3. 2 % in the past 24 hours and 16. 2 % on the week.

The announcement follows Trump’s notice of Bitcoin in a statement on Sunday, where he title checked how, “Bitcoin has shattered one report substantial after another. ”

Businesses may be anticipating whether Trump’s promises to become the “Crypto President ” will come to fruition soon after the opening and if he will reveal early action on his many pro-industry thoughts.

These may possibly contain repealing the SEC ’s contentious SAB 121 assistance, which requires bitcoin custodians to record custodied assets as obligations on their balance sheets. Many are also speculating that Trump did act swiftly to adopt a Bitcoin proper reserve, with odds of him doing but in his first 100 days now sitting at 57 % on Polymarket.

Sources with information the topic told last week that his crypto-related professional buy could make a a political crypto government, made up 20 founders and CEOs from the business.

The last time Bitcoin broke the$ 108,000 barrier was on December 17, amid earlier speculation about the introduction of a Bitcoin national reserve. Nevertheless, its new great comes after considerable volatility over the past week. Bitcoin’s price dropped to a two-month low of$ 89,800 last Monday ( January 13 ), as markets may have adjusted to the prospect of tighter monetary policy from the Federal Reserve.

Bitcoin also dipped below$ 100,000 earlier today after Trump’s newly launched meme coin, Official Trump ($ TRUMP ) rapidly declined in value following the release of Melania Trump’s meme coin ( MELANIA )—causing ripples throughout the wider crypto markets.

It’s not only Bitcoin that has been experiencing rapid price rises. Ethereum ( ETH) is up 5. 2 % in the past 24 hours, while XRP has risen 4 %. Solana ( SOL ) is the only major cryptocurrency in the top 15 to see a decline in the same period, falling 2. 6 %.