Bitcoin hits new all-time high above US$109K ahead of Trump inauguration

Bitcoin reached a historic milestone early Monday, briefly surpassing US$109,000 just hours before Donald Trump’s inauguration as the 47th president of the United States.

According to data from TradingView, Bitcoin peaked at US$109,036 at 6:55 am UTC before quickly retreating below US$108,000. At the time of writing, Bitcoin was trading at US$108,342, up around 3% in the last 24 hours, according to CoinGecko.

This surge builds on the cryptocurrency’s strong performance in recent months, with its previous record high of US$108,000 set on Dec. 17. Trump’s presidential victory in November has been a significant driver of bullish sentiment in the crypto market, fueling Bitcoin’s climb past US$100,000 for the first time in early December.

The crypto community’s optimism about Trump’s return to office is tied to his proposed pro-crypto policies. These include plans to establish a strategic Bitcoin reserve and introduce measures that could ease regulations on cryptocurrencies.

As Trump prepares to be sworn in at 4 pm UTC, many in the industry view his administration as a potential catalyst for further market growth. While the specifics of his policies remain unclear, the anticipation has already created ripples in the cryptocurrency world, with investors betting on a favorable environment for digital assets under his leadership.

Bitcoin’s latest rally reflects the broader market sentiment, highlighting the growing intersection between politics and the cryptocurrency ecosystem.

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