Bitcoin surged past the $109,000 mark, setting a new all-time high, in the early hours of Monday, January 20, as global attention remains focused on the return of Donald Trump to the U.S. presidency.
Trump was sworn in as the 47th President of the United States on January 20, 2025, marking his second non-consecutive term. The ceremony took place indoors at the Capitol Rotunda due to extreme cold, a first since 1985.
Trump emphasised a “Golden Age of America” in his inaugural address, vowing to prioritise American sovereignty and safety while promising swift action on various issues.
His inauguration is noted as a remarkable political comeback, being the first convicted felon to assume the presidency
As of 2:18 PM (GMT +1), the cryptocurrency was trading at around the $106,800 level, a slight dip from the $109,000 price it hit around 7.50 AM (GMT +1). Bullish sentiment surrounding Bitcoin and cryptocurrencies has reached unprecedented levels, fueled by Donald Trump’s demonstrated support for the crypto community, highlighted by the launch of his own meme coin, $TRUMP, on Friday.
As part of his pre-inauguration activities, Trump was a guest of honour at a crypto ball which was attended by some of the most influential personalities in the global crypto space. However, while the event was ongoing, the incoming US President announced in an X post, the launch of his meme coin. In less than 48 hours after the launch of the coin, it surged by about 900 percent, hitting $70.
At 2:00 PM (GMT +1), the memecoin was trading at around $47.00.
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