Bitcoin briefly surged above $109,000 on Jan. 20, breaking its previous high above $108,000 recorded in mid-December 2024.
The price of Bitcoin surged by more than 6% in minutes to a new high ahead of Donald Trump’s
inauguration as president of the United States.
Bitcoin
BTC
$107,214
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, BTC hit a new high of $109,036 at 6:55 am UTC before dropping below $108,000 in minutes.
Bitcoin traded at $108,342 at the time of writing and is up around 3% over the past 24 hours, according to data from CoinGecko.
Bitcoin’s new high came hours before Trump is set to be sworn in as the 47th president of the US at 4:00 pm UTC.
Trump’s inauguration has been a major catalyst for bullish action in cryptocurrency markets.
His Nov. 6 presidential victory fueled a massive crypto rally leading to Bitcoin surging above $100,000 for the first time in 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.
