Bitcoin Surges Past $105K on Anticipation of Trump's Presidency
Crypto investors are filled with optimism as the crypto market rallies, especially with an incoming pro-crypto administration. Bitcoin (BTC) reached an impressive price of over $105,000 on Friday, reflecting strong market sentiment.
Key Points:
- Bitcoin hit a 2025 high exceeding $105,000, partly driven by expectations surrounding incoming U.S. President Donald Trump, who is anticipated to implement supportive policies for cryptocurrency.
- Spot Bitcoin ETFs reported $1.3 billion in inflows in just two days, revitalizing interest in cryptocurrencies.
- Traders are keenly eyeing Bitcoin's all-time high of $108,000 as the next target, with predictions from Ledn's CIO John Glover suggesting Bitcoin could ascend to $128,000 shortly.
What’s Happening in the Market?
Bitcoin (BTC) experienced a surge of 5.2% over 24 hours, driving the CoinDesk 20 Index higher. Only NEAR and Litecoin kept pace with Bitcoin's gains while other cryptocurrencies like Solana and Ethereum lagged.
Crypto stocks are also witnessing upward momentum. MicroStrategy saw a 7% increase, and Coinbase rose by 4.5%. Major miners also recorded impressive gains, with MARA Holdings jumping 13%.
This performance comes after a brief downturn, where Bitcoin dipped below $90,000, but recovered 17% as the U.S. CPI inflation report eased investor concerns.
Looking Ahead to Trump’s Inauguration
Trump's upcoming inauguration on January 20 is viewed as a pivotal moment for the crypto market. Trump has pledged to foster an environment supportive of cryptocurrencies, potentially creating a national Bitcoin reserve.
Bloomberg reported that Trump intends to prioritize digital assets, which could significantly alter the regulatory landscape. The probability of creating a national Bitcoin reserve is currently estimated at 38%, according to Polymarket traders.
Conclusion
As we approach this significant political shift, market analysts remain optimistic. John Glover noted that while there is a possibility for Bitcoin to re-test previous lows, the likelihood of this happening is diminishing as the market responds positively to expected policy changes under the prospective administration.
