With only a few hours remaining of President-elect Donald Trump’s oath-taking ceremony for the second time, the BTC Price has successfully smashed a new all-time high of $109,114. This highlights an optimistic behavior among investors toward the growing blockchain technology.
Reportedly, the Bitcoin price has surged 16.93% in seven days, resulting in it achieving a new all-time high (ATH) today. will the pro-crypto policies of Donald Trump act as a catalyst in Bitcoin price achieving new heights this year?
Between 13th January 2025 and 17th January 2025, BlackRock’s “IBIT” recorded the highest inflow of $745.7 million, followed by Fidelity’s “FBTC” with $680.2 million.
However, Grayscale’s “GBTC” recorded the highest outflow of $87.7 million this week. With this, the Bitcoin ETF concluded the week with a total net flow of +$1,862.9 million, making this a positive week for the largest digital ETF.
The world awaits the oath-taking ceremony of Donald Trump, the President-elect candidate for the second time. However, he gained massive attention over the weekend with his launch of the Trump coin. The TRUMP memecoin experienced a 10x rally, highlighting a strong bullish outlook.
With a pro-crypto policy, the blockchain and Web3 industry is projected to transform forever under his leadership. This could push the price of top cryptocurrencies like Bitcoin, Ethereum, Solana, & XRP toward a new high.
However, taking into consideration a possible dump, the market could experience a short pullback as traders could ignite a chain of profit-booking amid rising greed in the crypto space.
The technical indicator, RSI, shows a sharp rise toward the overbought range. Further, the EMA 50-day constantly supports the Bitcoin price chart. This suggests an increase in the buying pressure for the BTC token in the crypto market.
In an optimistic situation, the price of Bitcoin could head toward its target price of $110,000 this week. However, if the crypto market experiences a bearish reversal, the BTC price could hit its important support of $100k.
Wondering about the long-term projections of the largest crypto token by market cap? Read CoinPedia’s Bitcoin Price Prediction!
With increasing bullish influence in the crypto market, the BTC price hits a new ATH today.
Amid increased bullish action and rising adoption, the largest crypto token by market cap could reach a high of ~$170,000 this year.
The launch of multiple TRUMP memecoins ahead of Donald Trump’s oath-taking ceremony has resulted in the crypto market experiencing a strong bullish reversal.
With a surge of over 100% in its intraday trading volume, the price of Bitcoin is $107,145.31.
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