Bitcoin Hits $109K Ahead of Donald Trump’s Inauguration

Bitcoin (BTC) skyrocketed to an unprecedented high of $109,333 during Monday’s Asian trading hours, just ahead of Donald Trump’s presidential inauguration. The cryptocurrency’s rally comes amidst growing confidence in Trump’s crypto-friendly policies and strong economic performance.

Trump Celebrates Bitcoin’s Record-Breaking Performance

Addressing the rally, Trump highlighted Bitcoin’s growth alongside positive stock market trends. “Since the election, small business optimism has soared to a 39-year high, and Bitcoin continues to break records,” he said on Sunday.

Bitcoin temporarily dipped to $100,000 on Sunday after First Lady Melania Trump launched a memecoin, diverting market liquidity, but quickly rebounded to set a new record.

Driving Forces Behind Bitcoin’s Surge

The president-elect’s commitment to the crypto industry has sparked significant investor optimism. Promises such as making the U.S. the global leader in cryptocurrency and establishing a strategic Bitcoin reserve have further bolstered confidence.

“Bitcoin’s rise to $108K reflects the market’s response to new policies and expectations of regulatory clarity,” said Ben El-Baz, Managing Director of HashKey Global. Jeff Mei, COO at BTSE, added, “Trump’s prioritization of crypto, coupled with initiatives like TRUMP coin, has created a strong bullish sentiment for the market.”

Outlook for 2025

As Bitcoin’s dominance climbs to 60%, analysts forecast further growth, with price targets ranging from $185,000 to $250,000 by year-end. The market is poised for a transformative year, with Trump’s policies likely to shape the future of cryptocurrency in the U.S.