Bitcoin Hits $109K Record High as Trump Prepares for Inauguration

On Monday morning during Asian trading, Bitcoin (BTC) surged to an unprecedented peak of around $109,000, just before the swearing-in ceremony of former President Donald Trump later that day.

Bitcoin recovered its losses that had occurred earlier in the day, dropping close to $100,000 from its peak of around $102,000 on Sunday. This recovery followed the announcement by First Lady Melania Trump about her own memecoin, which may have diverted liquidity away from significant assets like Bitcoin.

During his campaign, Trump has expressed strong opinions in favor of digital currencies like cryptocurrencies. His pledges to establish the U.S. as the leading nation in this field and create a “national strategic Bitcoin reserve” have sparked enthusiasm among investors.

The largest cryptocurrency touched $109,333 on Binance.

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2025-01-20 10:29