News 
January 20, 2025 
3 min. 
On January 20th, Bitcoin surged to a remarkable $109,000. This spike in price occurred a few hours to Donald Trump’s inauguration as the new president of the United States of America and fueled optimism across the crypto space. With unprecedented price change, Bitcoin has further solidified its position in the financial markets.
Bitcoin’s Meteoric Rise
TradingView data indicates that Bitcoin’s price increased by 6% in just a few minutes. This price surge was at an all time high of $109,036 at 6:55 UTC. This surpassed the record of $108,000 set in December 2024. Despite the increase, Bitcoin’s excitement faded as it dipped below $108,000 after reaching a price of $108,342. According to CoinGecko, this price signified an increase of 3% in the past 24 hours.
Increased excitement surrounding Trump’s presidency drew bullish sentiment towards the crypto sphere, further enabling the rally of bitcoin. Trump’s election victory in November, surged in optimism from the crypto community resulted in the first time Bitcoin crossing the $100,000 mark in December.
Crypto Markets Eye Trump’s Ambitious Plans
The crypto community’s enthusiasm stems from Trump’s proposed crypto-centric policies, including discussions of a strategic Bitcoin reserve for the United States and potential deregulation to foster innovation in the sector. These plans have positioned Trump as a potential ally to the burgeoning crypto industry.
Adding to the fervor, Trump’s newly launched memecoin, Official Trump (TRUMP), has gained significant traction since its debut on January 17. Early reports suggest the token’s explosive growth may have multiplied Trump’s net worth by up to fivefold.
Polymarket odds mirrored the excitement, surging to a multi-month high of 69% by 6:30 am UTC, minutes before Bitcoin’s price spike. As Trump’s inauguration approaches, the crypto market remains abuzz, with traders and investors closely monitoring developments that could further influence Bitcoin’s trajectory.
