Yigit Taha OZTURK 
Bitcoin (BTC) briefly surged above $109,000 on January 20, breaking its previous all-time high of $108,000, recorded on December 17, 2024. According to TradingView data, BTC reached $109,036 at 6:55 am UTC before quickly dropping back below $108,000. At the time of writing, Bitcoin was trading at $108,342, up approximately 3% in the past 24 hours.
Trump’s Presidency and Impact on Crypto Markets
This new Bitcoin high came just hours before Donald Trump was to be sworn in as the 47th president of the United States at 4:00 pm UTC. Trump’s victory on November 6 triggered a massive crypto rally, pushing Bitcoin above $100,000 for the first time in early December 2024.
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Optimism surrounding Trump’s presidency in the crypto community largely stems from his crypto-friendly plans, which include a strategic Bitcoin reserve for the U.S. and anticipated crypto deregulation.
Strategic Bitcoin Reserve Speculation
Bitcoin’s latest all-time high coincided with increased speculation that Trump would establish a strategic Bitcoin reserve within the first 100 days of his presidency. Data from crypto prediction platform Polymarket showed that the odds of this happening surged to 69% just minutes before BTC’s price spike.Trump began selling his newly launched Official Trump (TRUMP) memecoin on January 18. Released on January 17, the TRUMP token saw record-breaking growth, potentially multiplying Trump’s net worth by five times.
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