BTC/USD: Bitcoin Pumps to New Record Above $109,000 Ahead of Trump Inauguration

OG token got a surge of demand Monday morning, pushing above its previous record high. New high? Just about $1,000 more.

👑 Bitcoin Pumps Ahead of Trump Inauguration

• Bitcoin prices BTCUSD rallied to a new record above $109,000 in volatile Monday trading with Donald Trump’s inauguration on deck for today. This morning’s dealmaking kicked off with highly visible enthusiasm, probably because the weekend didn’t bring enough action for hyperventilating traders who are now enjoying the buying frenzy.
• It’s not exactly known how long this upside swing will last — the fire-breathing beast may decide to go wild and wreak havoc in the crypto space now that Trump has nowhere to go but fulfil his promises. And those are some lofty promises he made — one of them being making America the “crypto capital of the world.”

💥 Big Things Coming, Big Bullish Things

• The original cryptocurrency appears to be ready for takeoff now that Trump’s second presidential service is here. Traders are pricing in the execution of pro-crypto orders, filling up cabinets with pro-crypto staff, and even whipping up a Bitcoin strategic reserve where the White House will hodl all its Bitcoin.
• Yes, Trump wants to store all Bitcoin that’s owned by the government, usually plucked from bad actors’ wallets after raids by the FBI. The US has seized more than 215,000 Bitcoin since 2020, totaling roughly $22.5 billion. On top of that, there’s a bill, which proposes the purchase of 200,000 BTC a year for five years.

📢 Buy the Rumor, Sell the News?

• So with all that bullishness in the air, what could go wrong? Well, plenty. The classic market adage could play out — buy the rumor, sell the fact. Some analysts are calling for increased caution right about now when Trump settles in. In any case brace for volatility in both directions and protect your portfolio.
• In that context, Bitcoin has kicked off the year on a fairly upbeat note. Considering the highly bullish narrative that’s expected to unfurl, the cryptocurrency’s price is up more than 16% since the start of January.
• Another token stole the spotlight — Trump’s own meme coin “TRUMP” made headlines over the weekend — after it launched on Friday, a 1,000% rally vaulted it to a market cap of more than $20 billion.