title: Donald Trump, dubbed the "crypto president," has completed 100 days in office

Donald Trump has completed 100 days in office since taking the oath on Jan. 20.

Donald Trump has completed 100 days in office since taking the oath on Jan. 20.

What Happened: Bitcoin price hit a new all-time high of $109,000 ahead of Trump's presidential inauguration, driven by high expectations from his administration.

Trump had promised to create a national Bitcoin reserve during the campaign trail, and his subsequent victory drove bullish sentiment for the coin, pushing it to cross the $100,000 mark for the first time in history.

Trump fulfilled his promise and passed an executive order establishing a Strategic Bitcoin Reserve, which will be funded with Bitcoin seized by the federal government through criminal or civil asset forfeiture.

However, even this strong catalyst couldn't prevent the apex cryptocurrency from encountering some setbacks during Trump 2.0

The slump can be mainly attributed to Trump's broad tariff measures against major trading partners, which have introduced macroeconomic uncertainty and sparked fears of a looming recession.

Bitcoin's price reached a low of $76,000 earlier this month before rebounding sharply, although it's still down 13% from its peak.

On the other hand, when former President Joe Biden commenced his term on Jan. 30, 2021, Bitcoin was trading at around $36,000. Over the next 100 days, it ascended to $57,750.18, indicating a 60% rally. During this period, it also touched an all-time high of $64,800.

Importantly, the Federal Reserve maintained interest rates close to zero during this time, which may have encouraged investments in Bitcoin.

Bitcoin Price Action: At the time of writing, Bitcoin was trading at $94,817.49, showing little to no change over the last 24 hours, according to Benzinga Pro.