Bitcoin Hits New ATH, Pushed by Trump’s Inauguration and Memecoin Hype
Trump’s Inauguration, Memecoin Frenzy and Regulatory Optimism Drives Bitcoin Price to a New ATH
The cryptocurrency market is in a frenzy as Bitcoin surged to a new all-time high of $109,036 on January 20, 2025.
The biggest cryptocurrency by market cap experienced the seismic leap attributed to the buzz surrounding Donald Trump’s inauguration as the 47th President of the United States on the 20th of January and the recent launch of memecoins by Trump and his wife, Melania.
Bitcoin Hits a New High Amid Market Euphoria
Bitcoin’s surge began early on January 20, peaking at $109,036 before dipping slightly below $108,000. As of this writing, Bitcoin trades at $107,927, reflecting a 3.4% increase over the past 24 hours, according to CoinGecko.
The rise was triggered by successive launches of memecoins by Donald Trump and his wife, Melania Trump. The latter which was launched yesterday saw increased volatility in the market, pushing Bitcoin to rise to a new ATH.
This surge also builds on the bullish momentum built up by Trump’s victory in November 2024. Trump’s promises of establishing a National Bitcoin Reserve and news that SEC Chairman Gary Gensler is set to be replaced is signalling a shift in regulatory dynamics
The Trump Pump: A Catalyst for Growth
Donald Trump’s presidency has ignited optimism within the cryptocurrency community. The president elect has laid out ambitious plans to bolster the crypto sector. These include the potential establishment of a Bitcoin reserve and promises of deregulation.
Adding to the excitement, Trump and Melania launched rival memecoins over the weekend, pushing the crypto market into a frenzy. Trump’s official token, OFFICIAL TRUMP, quickly gained traction, becoming the 18th largest cryptocurrency by market cap.
While these memecoins initially attracted massive liquidity, many investors have since shifted profits into more predictable tokens like Bitcoin, fueling its rise. This migration underscores Bitcoin’s status as a more stable asset in a volatile market.
Consequently, $Trump is currently trading at $58.03, down by 4.3% today while $Melania is trading at $10.88, up by 42.52% according to data from Coingecko.
What Lies Ahead for Bitcoin?
Despite its current ATH, Bitcoin still remains adequately poised for further growth. Analysts predict the cryptocurrency could break $110,000 shortly after Trump’s inauguration, driven by heightened buying pressure and long-term optimism for the market.
Furthermore, in the coming days, talks for the establishment of a National Bitcoin Reserve could also bolster bullish outlooks. All these combined could see sustained investor confidence and cause Bitcoin to soar past $120,000 in the coming weeks.
