The cryptocurrency market has started the week with significant price fluctuations, with Bitcoin (BTC) reaching an all-time high of over $109,000 on January 20, 2025.

Importantly, this surge occurs against a backdrop of crucial economic events, such as Donald Trump’s inauguration as the 47th President of the United States and other global macroeconomic factors that may influence market sentiment in the upcoming days.

Explore: Bitcoin Hits New Record High! BTC Rises 6% To Surge Past $109,000

Bitcoin’s Rollercoaster Ride

Bitcoin kicked off the week experiencing extreme volatility, briefly falling below $100,000 before bouncing back to surpass the $109,000 mark. This reflects a continuation of its bullish trend, which has seen Bitcoin rise from $70,000 in November 2024 to its recent highs. The total cryptocurrency market capitalization also soared to $3.72 trillion before slightly retreating.

Trump’s Inauguration And Its Crypto Implications

Donald Trump’s inauguration is a significant event for both traditional and cryptocurrency markets. He is known for his pro-crypto stance, promising to turn the U.S. into a “crypto capital” through strategies like establishing a Strategic Bitcoin Reserve. His administration is expected to bring in crypto-friendly figures for regulatory roles, creating optimism among investors.

Additionally, Trump introduced his own meme coin, $TRUMP, which initially surged to a valuation of over $70 billion before experiencing a downturn, illustrating the growing intersection of politics and cryptocurrency.

Global Economic Calendar: Key Events This Week

• Thursday, January 23, 2025 – The U.S. labor market will be closely watched as jobless claims data is released. An increase in claims could indicate economic weakness, affecting consumer confidence and investments in assets like Bitcoin.
• Friday, January 24, 2025 – S&P Global Manufacturing and Services PMI indices will offer insights into economic activity, serving as indicators for broader economic trends.
• Upcoming European Central Bank Meeting – Investors expect hints of possible interest rate cuts, which could influence global liquidity.
• Concerns Regarding the Bank of Japan – Speculation about a potential rate hike has raised worries about impacts on global markets and liquidity-sensitive assets like cryptocurrencies.

Are New Crypto Coins Worth Buying?

With Trump’s recent launch of the meme coin OFFICIAL TRUMP (TRUMP), this newly endorsed meme coin holds a market capitalization of several billion dollars, marking it as a noteworthy entry in the meme coin space and benefitting early investors with considerable gains. This article provides an overview of price predictions for OFFICIAL TRUMP and outlines its short- and long-term investment risks.

Disclaimer: Cryptocurrency is a high-risk investment. This article is for informational purposes only and does not constitute investment advice. Always conduct thorough research before making investment decisions.