Bitcoin has made headlines again. This time, it has reached an all-time high (ATH) of $109,194. This surge happened just hours before Trump was inaugurated as President. He is the 47th President of the United States. Continue reading to learn all about Bitcoin’s new all-time high.
The Latest Bitcoin Rally
Bitcoin’s price jumped by 2.78% in just 24 hours. Over the past week, it rose an impressive 14.96%. According to Binance, Bitcoin’s market capitalization is now $2.13 trillion. Moreover, there are 19.81 million Bitcoin coins in circulation.
Optimism About Trump’s Pro-Crypto Stance
This rally in Bitcoin comes as many people feel optimistic about Trump’s views on cryptocurrency. Market watchers believe that Trump will support blockchain-friendly policies during his administration.
Edu Patel, the co-founder and CEO of Mudrex also shared his views. He mentioned how Bitcoin created a new all-time high of $109,194. This was just hours before Trump’s inauguration. Moreover, he added that since election day, Bitcoin has climbed over 60%.
Anticipation of the Strategic Bitcoin Reserve
Patel mentioned that people are excited about Trump’s big announcement. This is the “Strategic Bitcoin Reserve”. The reserve will be posted after his inauguration. This anticipation has helped fuel the recent Bitcoin rally.
Meme Coins: TRUMP and MELANIA
Launch Details
Along with this, there is a buzz around Donald Trump and his wife launching new meme coins. The TRUMP and MELANIA coins are hosted by the Solana blockchain. They were launched on January 17 and 20 respectively. The meme coin started selling at $10 each. Soon, it soared to $70 by Sunday afternoon. This price jump was a surprise to many investors. It was considered a chance to make more money. Currently, the price of the meme coin is US$0.01764 as of January 20, 2025.
Price Performance
The TRUMP coin quickly reached popularity. It briefly entered the top 20 cryptocurrencies by market cap. Also, it reached a valuation of $14 billion. However, its price dropped by 40% after the launch of MELANIA. The price fell from $74.06 to $44.82 within 24 hours. As of now, the TRUMP coin is rebounding. It is trading at $59.41. This shows a 27% gain over the day. Moreover, the MELANIA coin has seen an even bigger hike.
Investment Options for Meme Coins
There are several ways to purchase the meme coin (DTC). One of the easiest ways is centralized exchanges (CEXs). One of its examples is KuCoin. There should be exchanges that support DTC. The benefit of this is strong security and enough liquidity. Moreover, it provides competitive fees.
Besides, one can also opt for a non-custodial wallet. Some of the examples of this are KuCoin or MetaMask. These are Web3 wallets that allow one to swap cryptocurrencies. This provides strong security as well. DEX or decentralized exchanges are yet another way to invest. An example of this is Uniswap. It provides trusted funding. Their tokens are available on EVM-compatible blockchains.
Caution From Analysts
High Volatility of Meme Coins
There is a lot of excitement around Bitcoins and these meme coins. However, analysts have warned investors. They say that meme coins are highly speculative. Their prices can change dramatically. Moreover, this is based on market sentiment. This was observed immediately after MELANIA was introduced.
Market Impact of MELANIA Launch
The market was volatile with the news of the second meme coin. The effect was seen on the TRUMP meme coin. Its value dropped significantly for the first ten minutes. The excitement around Trump’s inauguration may be driving the current rally. However, it is unclear if prices will rise or drop after the event.
Advice For Investors
There are certain precautions to take before investing in cryptocurrencies. Also, this can be applied to the meme coins like TRUMP or MELANIA. Experts advise doing it through market research. One should be prepared for potential losses. Besides, the crypto market is known for its volatility.
Bitcoin’s Record Performance
Market Movements
Bitcoin has been the top performer in the market this week. It has moved wildly. It has swung from below $100,000 to a new record of $109,582. This was during the Asian trading session on Monday.
Trump’s Influence on Crypto Markets
The excitement over Trump’s inauguration has contributed to the volatility. Also, his plans for the crypto market have caused a stir.
One of his priorities is to overhaul crypto market regulations. Last Friday, Trump launched his crypto token. The token gained a lot of popularity. Moreover, it reached a trading volume of $52.5 billion. This was in the past 24 hours. This launch has significantly impacted the volatile crypto markets.
Future Demand for Cryptocurrencies
Pro-Crypto Sentiment
Demand for cryptocurrencies is likely to continue rising. Trump’s strong pro-crypto stance is boosting positive sentiment. He has promised to be a “crypto President”. However, some experts have raised concerns about potential ethical and regulatory issues.
Key Support Levels for Bitcoin
Bitcoin could greatly benefit from this environment. However, bulls may take some time to push the price higher. There are headwinds from the psychological barrier. This includes $110,000. Furthermore, analysts believe that Bitcoin should stay above the broken Fibonacci 76.4% barrier at $103,380. This level has become solid support. Also, key levels to watch are $101,000, $100,000, and $98,870. If Bitcoin falls below these levels, it could be a worrisome sign.
Key Resistance Levels
A sustained break above the $110,000 level could generate a fresh bullish signal. This could open the door for a target of $120,000. There are intermediary resistance levels at $113,000, $115,800, and $118,080. These levels are based on Fibonacci projections from the recent rally.
Conclusion: Excitement and Caution in the Crypto Market
Bitcoin’s rise to a new high is exciting news for investors and the crypto community.
The optimism around Trump’s inauguration is contributing to the rise. Moreover, his pro-crypto policies are also contributing to the same. However, potential investors should remain cautious. The cryptocurrency market is known for its volatility. Also, the prices are changing rapidly. Therefore, one should always do their research before investing.
