Bitcoin Has Risen to $105,000, Just Before Donald Trump is Inaugurated for His Second Term on Monday

The BTC price dropped to around $90,000 earlier this month before reclaiming $100,000 on Thursday.

Bitcoin price today hit a new all-time high of $105,000 on Friday, continuing its rally after Donald Trump launched his new meme token earlier this week.

BTC price dropped to around $90,000 earlier this month before reclaiming $100,000 on Thursday. Since then, the prices have continued to surge, hitting a high of $105,900 on Friday.

Trump’s new meme token sparks massive interest among crypto community

On Friday, Trump launched his new meme token, sending shockwaves through the Bitcoin and crypto community. Crypto investor and Youtuber Anthony Pompliano even asked investors to “buckle up,” saying financial markets were not prepared for what was to come. At the time, the meme token’s market cap was close to hitting $8 billion, but it has now climbed to nearly $9 billion.

Also, CNBC crypto trader and founder of Crypto Banter Ran Neuner remarked:

“The Trump meme coin is real. This is just a taste of what we can expect for the next four hours! You’re not bullish enough.”

Most analysts and traders are bracing for continued volatility across crypto markets. Nonetheless, Trump’s promotion of his new meme coin has sent an optimistic message that he intends to fulfill his crypto promises, fueling analysts' expectations.

On Friday afternoon, Bitcoin was already trading at $104,800 before surging to $105,900 later in the day. Bitcoin is trading at $105,283 at press time, up 0.83% in the last 24 hours. Its 24-hour trading volume stands at $50.24 billion.

News on possible crypto executive orders also pushing BTC price up

As Donald Trump prepares to sign over 100 executive orders immediately after his inauguration, some have hinted that some of the executive orders will be related to Bitcoin or crypto, rallying high price expectations once he enters office.

According to sources familiar with the matter, analysts should expect at least one crypto executive order for the first 100 days of Trump’s term.

Elsewhere, the Consumer Price Index (CPI) rose 2.9% in the 12 months through December. According to traders, this makes another Fed rate cut seem more likely, which could make Bitcoin more attractive.

As we await a new presidency, the collective insights from many analysts paint a diverse picture of Bitcoin’s potential trajectory. While some predict stability or modest gains, reflecting a tempered optimism, others anticipate more pronounced fluctuations driven by investor sentiment and political climate changes.