Bitcoin (BTC) is experiencing a substantial upswing, recently hitting unprecedented highs against the British pound and achieving its strongest valuation in U.S. dollars since 2025. This surge corresponds with growing expectations of an era favorable to cryptocurrencies, as Donald Trump is set to take office soon.
How Is Bitcoin Performing Lately?
BTC has surpassed $105,000 during recent trading sessions in the U.S., marking a 5.2% increase in just 24 hours. The CoinDesk 20 Index also reflects this upward momentum, largely driven by Bitcoin. While NEAR and Litecoin (LTC) mirrored Bitcoin’s gains, cryptocurrencies like Solana (SOL) and Ethereum (ETH) saw more modest increases of about 3%. Conversely, XRP recorded a 4% decline.
What Impact Will Trump’s Policies Have?
The most impactful event will be Trump’s inauguration on January 20. Throughout his campaign, Trump pledged to position the United States as a frontrunner in the cryptocurrency sector and hinted at establishing a national Bitcoin reserve. Reports indicate that he plans to issue an executive order that prioritizes digital assets on a national level.
Bitcoin’s recent performance signifies a break from a prolonged downward trend, with aspirations to reach previous record prices established in December. John Glover, the chief investment officer at Ledn, has highlighted a positive technical outlook for Bitcoin, projecting a potential price of $128,000 in the near future while suggesting that the possibility of revisiting recent lows appears diminishing.
- Trump’s administration is expected to implement supportive policies for cryptocurrencies.
- Increased inflows into Bitcoin ETFs are positively impacting market prices.
- The cryptocurrency market is closely watching the government’s actions on digital assets.
The trajectory of Bitcoin’s price will significantly hinge on the effectiveness of the upcoming policies from the new administration and their impact on the overall market dynamics.
