Bitcoin (BTC), the world’s largest cryptocurrency, has set a new all-time high (ATH), breaking past the $109,000 mark for the first time. This milestone comes amid growing market excitement ahead of Donald Trump’s inauguration as the 47th President of the United States on Monday, January 20, 2025.
According to TradingView data on Monday, January 20, Bitcoin’s price surged sharply from its intraday low of $99,000 to a record high of $109,160 within just six hours, marking a 7% increase in the past 24 hours.
This rally was accompanied by a significant surge in daily trading volume, which skyrocketed over 108% to $104.3 billion. Meanwhile, Bitcoin’s market capitalization hit a new record of $2.15 trillion, surpassing its previous ATH of around $108,000 recorded in December 2024.
Excitement Builds Ahead of Donald Trump’s Inauguration
Crypto traders are eagerly anticipating the inauguration of President-elect Donald Trump, scheduled for midnight tonight. While Trump was once skeptical of Bitcoin, he has increasingly expressed support for the crypto sector, signaling a potential boost for the industry in the United States.
Known for his pro-innovation and deregulation stance, Trump leveraged crypto-friendly campaign promises to garner support. These include establishing a Bitcoin-backed national reserve, supporting crypto miners, and creating an advisory committee to develop industry-friendly regulations.
Trump’s support for crypto is further highlighted by his appointment of pro-crypto figures to key positions in the White House. Paul Atkins has been named Chairman of the U.S. Securities and Exchange Commission (SEC), replacing Gary Gensler, and David Sacks has been appointed as the “crypto czar,” emphasizing the administration’s commitment to fostering innovation in the sector.
Adding to the buzz, the launch of the meme coin $TRUMP on the Solana network on January 18, 2025, has further fueled interest in the crypto market.
Analysts Predict Continued Bitcoin Growth
Amid this momentum, analysts are forecasting Bitcoin’s price to climb further, potentially reaching levels between $125,000 and $250,000 by the end of 2025. Trump himself has expressed optimism, suggesting Bitcoin could hit $150,000 early in his presidency.
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