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Vignesh S G
Vignesh S G
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- Jan 20, 2025 11:11 UTC
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Why Bitcoin Price is Up Today? Trump’s Pro-Crypto Shift Explained
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BTC $ 103,064.74 (6.14%) 
Bitcoin price hits a new all-time high of $109,588 due to anticipated pro-crypto policies under the Trump administration.
Strong market growth (16.1% in 7 days) is fueled by speculation, investor inflows (+38.27B), and bullish technical signals.
A potential "cryptocurrency advisory council" under Trump could significantly impact crypto policy and drive further market growth.
Bitcoin has surged to a new all-time high of $109,588.08, driven by growing excitement about Donald Trump’s upcoming presidency and his pro-crypto policies. With Trump set to become the 47th President of the United States, the Bitcoin market has seen a 16.1% increase in the past week, with a 3.5% rise in the last 24 hours alone.
Here are all the details.
Bitcoin Reaches New Highs
The recent growth in Bitcoin’s price is largely attributed to speculation about Trump’s pro-crypto policies, including the possibility of creating a Bitcoin reserve. When Trump defeated Kamala Harris 
Kamala Harris Kamala Harris is an American politician attorney, and currently serving as vice president of the United States. She is the first female vice president and the highest-ranking female politician in the U.S. Kamala was Born in Oakland, California, and graduated from Howard University with a degree in political science and economics, and later pursued her law degree from the University of California, Hastings College of the Law. As a politician, she implemented stricter laws, the DREAM Act, and federal legalization of cannabis, healthcare, and taxation reform. Harris secured enough non-binding support from delegates to become the speculative nominee of the Democratic Party. Vice President in the 2024 U.S. Presidential Election, Bitcoin was priced at $69,377.56.
Since then, the cryptocurrency has risen by 55.7%, with a 34.19% jump between November 6 and 15. On November 19, Bitcoin traded between $91,976.73 and $106,169.45, but today it broke through this range with a 6.52% increase. Currently, Bitcoin stands at $108,060.38.
What’s Next for Crypto Under Trump?
Trump’s administration is expected to introduce several pro-crypto policies, and many believe he may create a Bitcoin reserve. Polymarket bettors currently give a 60% chance to the proposal of a Bitcoin reserve becoming a reality.
There are also rumors that Trump might set up a cryptocurrency advisory council, using his executive powers. If created, this council could provide a forum for crypto leaders and policymakers to discuss regulations and strategy.
Institutional Confidence Grows
Data from Coinglass reveals a significant increase in Bitcoin Spot ETF inflows, totaling +38.27B. On January 15, the market saw an inflow of +755.10M, followed by +626.10M and +975.60M on January 16 and 17, respectively. In just three days, the total inflow reached $2.36 billion, showing that institutional investors are increasingly confident in Bitcoin.
- Also Read :
- Donald Trump Cryptos Trigger $80B Memecoin Market Boom
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Bitcoin Price Technical Analysis
A symmetrical triangle pattern on Bitcoin’s weekly chart has caught the attention of technical analysts. The market broke above this pattern today, and analysts predict that Bitcoin could reach as high as $128,000, given that breakouts above the triangle’s upper trendline often lead to significant price increases.
Bitcoin’s record-breaking rise, combined with Trump’s pro-crypto stance, marks a crucial moment for the market. Prepare for volatility ahead!
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FAQs
Market optimism around Trump’s pro-crypto policies, strong Bitcoin ETF inflows, and speculation of a BTC reserve drove the surge.
$1 invested in Bitcoin during its inception in 2009 would be worth millions today, with Bitcoin currently priced over $109,000.
In 2030, the price of 1 Bitcoin could reach a height of $610,646.
Projecting a 10-year growth in a volatile asset like Bitcoin seems a far-stretched notion. The BTC price is expected to cross $600,000 by 2030. With global adoption, Bitcoin could be worth 1 million dollars.
Yes 
No 
