Prices of Bitcoin price Has hit another record high, just below $109,000. This is due to the optimism that has been sweeping through the cryptocurrency industry in anticipation of Donald Trump becoming U.S. Presidency.
Bitcoin, according to CoinGecko has fallen slightly from its all-time record high of $108,786, and is currently at $107 949. It’s up by 3.2% over the past day and 16.2% for the week.
Trump has mentioned the following news. Bitcoin He made a reference to the name of the company in his Sunday address. “Bitcoin has shattered one record high after another.”
Investors are awaiting to see if Trump keeps his promises. “Crypto President” Will his numerous pro-industry proposals be put into action immediately after the election?
This could possibly include the SEC’s controversial SAB 121 guidelines, which require crypto custodians listing custodied asset as liabilities on balance sheets. Polymarket currently has odds of 57% that Trump implements a Bitcoin Strategic Reserve in his first hundred days.
The matter was reported by sources with knowledge of the facts Decrypt Last week, President Trump said that a crypto-related executive directive could be used to create a council of 20 CEOs and founders in the crypto industry.
Bitcoin’s last breakthrough of $108,000 was in December, amid earlier speculations regarding the establishment of a Bitcoin reserve. Its new high follows a week of volatility. Bitcoins’ price fell to an all-time low of $89800, a drop of two months. Markets may have adjusted in anticipation of a tighter Federal Reserve monetary policy.
Bitcoin also dipped below $100,000 earlier today after Trump’s newly launched meme coin, Official Trump ($TRUMP) rapidly declined in value following the release of Melania Trump’s meme coin (MELANIA)—causing ripples throughout the wider crypto markets.
The price of other cryptocurrencies has also been increasing rapidly. Ethereum (ETH), meanwhile has risen 4% in the past day. Solana is the only top-15 cryptocurrency to have seen a decrease in that time period. It fell 2.6%.