Bitcoin’s price surpassed $104,000 Friday on the day of Donald Trump’s inauguration, and is now heading towards $105,000.
Reports from Decrypt The SEC is likely to be the first to announce a set of crypto-related executive order, which could range from directives on regulatory matters at the SEC up to the establishment of an alleged national Bitcoin Reserve.
Bitcoin is now valued at $104,585 and has reached a high of $104,696 on Friday. This represents a nearly 5% increase over the last day. It is only 3% from the all-time price high of $108,135 that was set in December.
Inflation fears are fading, and the crypto has gained nearly 12% this past week. The price briefly dropped below $90,000. The macrojitters increased Monday.
The market may be excited about the prospects of a crypto friendly president. However, BRN Analyst Valentin Fournier stated in his Friday note that Trump would need time to implement any initiatives he proposed, and this could dampen investor confidence.
“Investor expectations may be too optimistic,” He has written. “Delays in implementing proposed measures could trigger a ‘sell the news’ reaction, potentially disrupting Bitcoin’s current positive momentum.”
Following four trading days in a row of net outflows from spot Bitcoin ETFs, the market turned positive again on Wednesday along with a widely anticipated inflation snapshot. Spot Bitcoin ETFs raked in $755 million on both Wednesday and Friday, and $626. CoinGlass.
Bitcoin is a part of the decentralized network and trades all day long. According to a, in recognition of Martin Luther King Jr. Day the stock market is closed. This means that Friday will be the last trading day before Trump takes office. Post by Steven Lubka of Swan Bitcoin, the Head of Private Clients and Family Offices at Swan Bitcoin shares his views on X.
“If you’re looking at [Trump] and saying, ‘He’s got a good probability of announcing something to do with Bitcoin,’ then this is your last opportunity to put on that trade,” Lubka said Decrypt. “Once markets open Tuesday, it’ll already be priced in.”
Trading on the day one of Trump’s pro-Bitcoin executive actions will have to wait until tomorrow.
It should be interesting
— Steven Lubka ☀️ (@DzambhalaHODL) January 17, 2025
Juan Leon, Senior Investment Strategist at Bitwise, said that the attention of investors will likely be focused on Trump’s Monday announcement. Decrypt Several states may quickly follow suit with their plans. Own Bitcoins If Trump fulfills his promises.
“This conversation is evolving much more quickly than people expected,” “He said” “And so the idea that any one government or state could establish a reserve this year is very real.”
Andrew Hayward is the editor