Bitcoin reached a historic milestone in the early hours of Monday, January 20, surpassing the $109,000 mark as global markets reacted to the anticipation of Donald Trump’s return to the U.S. presidency.
By 2:18 PM (GMT +1), the cryptocurrency had slightly pulled back, trading at approximately $106,800 after hitting its peak around 7:50 AM. The surge in Bitcoin’s value reflects a wave of optimism across the crypto market, largely driven by Trump’s recent pro-crypto stance, including the unveiling of his own meme coin, $TRUMP, which was introduced last Friday.
Trump’s Influence Fuels Market Excitement
Crypto enthusiasts and investors have shown growing enthusiasm following Trump’s involvement in the digital asset space. The former U.S. president made headlines after attending an exclusive cryptocurrency event ahead of his inauguration, where he was the guest of honor alongside leading figures in the industry.
During the event, Trump announced the launch of his meme coin, $TRUMP, via an X post. The token experienced a rapid rise, skyrocketing by approximately 900% within just 48 hours of its debut, reaching a peak of $70. However, by 2:00 PM (GMT +1), it had adjusted to a trading value of around $47.00.
Crypto Market Responds to Political Developments
The intersection of politics and cryptocurrency continues to shape market movements, with analysts attributing the recent rally to the perception that Trump’s policies could create a more favorable regulatory environment for digital assets. Investors are closely watching how his administration might influence the sector, potentially driving further growth and stability in the long term.
As the countdown to Trump’s official return continues, market participants are positioning themselves for further volatility, with Bitcoin’s remarkable climb serving as a testament to the growing influence of political dynamics on the crypto landscape.
