The post Bitcoin Hits All-Time High as Trump Inauguration Approaches appeared on BitcoinEthereumNews.com.

Arguably one of the biggest tailwinds that Bitcoin has ever had is about to get behind it when Donald Trump is inaugurated as the next US president later today. Already having surpassed the all-time high in early frenzied trading on Monday, what the rest of the day might bring for Bitcoin can only be guessed at. An unprecedented surge In early trading, the Bitcoin price rallied 10% to get above $109,000 on Monday. This all happened in the timespan of around eight hours. An increase such as this, in such a short space of time, is unprecedented in Bitcoin’s history. There are still many hours left in the day … This incredible occurrence may spark a final stage of the bull run that can only be imagined at. Trump has said that he wants to make crypto a priority, and this change in fortunes for a fledgling asset could only have been dreamed of even just a few months ago. From the stolid and unyielding anti-crypto stance of the Biden administration, a transfer to a welcoming and supportive Trump administration will have the effect of throwing off the shackles and giving wings to the crypto industry. Big buyers help the cause Right on cue, the U.S. Spot Bitcoin ETFs bought the 5th highest amount of $BTC with a 9.76K inflow on Friday, equating to $975.60 million. This adds to the $755.10 million inflows of last Wednesday and $626.10 on Thursday.  One also needs to bear in mind that MicroStrategy normally announces a purchase on Monday. Michael Saylor has already hinted at this on his X account on Sunday, where he posted a graphic of all the MicroStrategy purchases, and the statement: “Things will be different tomorrow”. Healthy retrace followed by massive surge Source: TradingView The daily chart for $BTC is…

---

Filed under: News - @ January 21, 2025 3:14 am