Bitcoin on Track to Surpass Previous Record with Trump’s Inauguration Coming Up, Major Coins Likely to See 10% Price Shifts: Traders

Bitcoin (BTC) has been gaining significant momentum, breaking through critical price levels as traders anticipate the impact of the incoming U.S. administration on cryptocurrency policies. The price of Bitcoin surged past $100,000 this week, buoyed by softer-than-expected U.S. inflation data and growing optimism surrounding pro-crypto policies under President-elect Donald Trump.

Bitcoin’s rapid recovery from a dip below $90,000 earlier in the week has ignited a wave of bullish sentiment. As the inauguration of President Trump approaches, traders are betting on the potential for a major policy shift that could be highly favorable for cryptocurrencies. Trump’s previous statements about creating a strategic Bitcoin reserve and supporting digital assets have been fueling market optimism.

“Bitcoin is responding positively to the easing of inflation fears, and the anticipation of Trump’s inauguration is certainly adding fuel to the fire,” said Diego Cardenas, a trader at Abra. “There’s a real possibility that we could see Bitcoin break through its all-time high as the market reacts to pro-crypto policies coming out of Washington.”

While the overall market sentiment is leaning bullish, some analysts caution that the volatility inherent in crypto markets could lead to sharp corrections, especially if inflation numbers or policy announcements fail to meet expectations.

The dollar index (DXY), which has been inching upward, is also a factor being watched closely, as a stronger dollar can sometimes dampen the appetite for riskier assets like cryptocurrencies. However, with Bitcoin and other altcoins experiencing upward momentum, investors are increasingly viewing the market through an optimistic lens, particularly with the pro-growth, pro-crypto stance that Trump is expected to bring.

“Bitcoin could reach new highs as it breaks through the psychological $100,000 barrier, but we’re entering a period of uncertainty with the change of leadership,” said analyst Sarah Lee. “It’s crucial to see how Trump’s policies unfold and how the market reacts to upcoming announcements.”

As Bitcoin continues to ride high on positive sentiment, market watchers are awaiting President Trump’s first actions and speeches post-inauguration to gauge the future of cryptocurrency regulations in the U.S.

  • Related Posts

    A trader in the crypto market sees Hyperliquid and AI tokens at the forefront of the next altcoin rally.

    Hyperliquid’s recent breakout, alongside renewed momentum in AI-focused crypto assets, is pointing to a broader recovery in risk appetite across the altcoin market, according to analyst Michael van de Poppe.…

    Continue reading
    Bitcoin declines to $74,300 while spot ETFs see $2.26 billion in outflows over a two-week period.

    U.S.-listed spot Bitcoin exchange-traded funds have seen more than $2.26 billion in net outflows over the past two weeks, signaling sustained pressure across the digital asset market. Bitcoin (BTC) remains…

    Continue reading