Bitcoin hits new all-time high above $109K ahead of Trump’s inauguration
2025-01-20
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The price of Bitcoin has surged to new historic highs amid United States President-elect Donald Trump preparing to begin his second term in the White House.
Bitcoin BTCUSD briefly surged above $109,000 on Jan. 20, breaking its previous all-time high above $108,000 recorded on Dec. 17, 2024.
According to data from TradingView, the Bitcoin price briefly surged to an ATH of $109,036 at 06:55 am UTC, to subsequently drop below $108,000 in minutes.
At the time of writing, Bitcoin is trading at $108,342 and is up around 3% over the past 24 hours, according to data from CoinGecko.
Bitcoin’s new ATH comes hours before Trump is expected to be sworn in as the 47th President of the US at 4:00 pm UTC.
Trump’s inauguration has been a major catalyst to bullish action in cryptocurrency markets, with his November presidential victory fueling a massive crypto rally leading to Bitcoin surging above $100,000 for the first time in history by early December 2024.
Growing optimism around Trump’s presidency in the crypto community is largely attributed to his ambitious crypto-related plans, including a potential strategic Bitcoin reserve and anticipated crypto deregulation.
This is a developing story, and further information will be added as it becomes available.