Thursday, January 23, 2025
HomeFinanceBitcoin Hits Record High Ahead of Trump Inauguration | Global News Avenue

Bitcoin Hits Record High Ahead of Trump Inauguration | Global News Avenue

Bitcoin Hits Record High Ahead of Trump Inauguration

Main points

  • Bitcoin price rose to a new all-time high of over $109,000 ahead of Monday’s inauguration of US President-elect Donald Trump.
  • The price increase comes as the Trump meme coin launched on Friday night and experienced frantic weekend trading activity. Incoming first lady Melania Trump launched her own meme coin on Sunday.
  • Spot Bitcoin ETF inflows approached $1 billion on Friday as optimism among cryptocurrency investors grew over the incoming Trump administration.

Bitcoin hit an all-time high above $109,000 ahead of Donald Trump’s inauguration on Monday as investor optimism grew that the incoming president would adopt policies that would benefit the crypto market.

Bitcoin price surges as president-elect and his wife Melania launch separate launches Meme Coin Over the weekend, this idea was added: New government takes office It would be a positive development for cryptocurrency investors.

Bitcoin was last trading around $105,000 after rising to $109,350 overnight. The digital currency has gained 50% since the election in early November and has surged again in recent days on hopes that Trump will announce cryptocurrency-related measures during or shortly after his inauguration speech.

inflow Spot Bitcoin ETFs Underscoring optimism about Bitcoin. Spot ETFs attracted a net $975.6 million on Friday alone, according to Farside Investors.

Meanwhile, Trump builds a National Bitcoin Reserve That number increased from 39% to 65% in 2025 over the past week, according to prediction market Polymarket.

On Sunday, the president-elect pointed to Bitcoin’s post-election surge to all-time highs as part of a larger “Trump effect” in the market. Trump made a series of promises during his presidential campaign Good for the crypto industry.

SolanaThe crypto network that launched the TRUMP and MELANIA meme coins also hit all-time highs over the weekend.

The Trump meme coin has been a wild ride for speculators so far, with its market capitalization approaching $10 billion on Monday morning. On Sunday, less than an hour before and after the launch of the MELANIA Meme coin, the Meme coin fell 44%.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments