{"id":26535,"date":"2025-01-21T08:02:18","date_gmt":"2025-01-21T08:02:18","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=26535"},"modified":"2025-01-21T08:02:18","modified_gmt":"2025-01-21T08:02:18","slug":"bitcoin-soars-beyond-109000-on-inauguration-day-a-milestone-moment-for-cryptocurrency","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/bitcoin-soars-beyond-109000-on-inauguration-day-a-milestone-moment-for-cryptocurrency\/","title":{"rendered":"Bitcoin Soars Beyond $109,000 on Inauguration Day: A Milestone Moment for Cryptocurrency"},"content":{"rendered":"\n

Bitcoin (BTC), the top cryptocurrency, has achieved a new record high, exceeding $109,000 on Monday, with excitement growing over the upcoming inauguration of President Donald Trump.<\/p>\n

Trump Family\u2019s Memecoins Spark Market Activity<\/h2>\n

According to CNBC, this spike in Bitcoin\u2019s value is linked to the recent introduction of two memecoins by the Trump family. This weekend, Trump launched the \u201cOfficial Trump\u201d (TRUMP) memecoin, which surged to a market capitalization of $10.6 billion, marking an impressive increase of more than 659% since its launch on Friday.<\/p>\n

Nonetheless, the TRUMP memecoin has seen some fluctuations, dropping roughly 27% from its peak value of about $73 per coin on Monday.<\/p>\n

Melania Trump also entered the memecoin space with her coin called \u201cMelania,\u201d which began trading on Sunday evening. It has achieved a market cap of $1.3 billion, showing a 14% rise since its initiation.<\/p>\n

The launch of the Melania memecoin notably influenced the TRUMP coin\u2019s value, with TRUMP\u2019s market cap nearly halving and its ranking dropping from the 12th to the 22nd largest cryptocurrency.<\/p>\n

Despite the risks associated with investing in memecoins, the report indicates that these new offerings have generated renewed optimism among traders, suggesting a potential supportive approach from the incoming administration towards cryptocurrency.<\/p>\n

Market strategist Joel Kruger from LMAX noted<\/a> that these developments illustrate President Trump\u2019s dedication to the crypto market, affirming that Americans should have the freedom to engage with emerging asset classes.<\/p>\n

Kruger remarked, \u201cThis move demonstrates Trump\u2019s acceptance of crypto and the belief that Americans should be free to participate in new asset classes.\u201d<\/p>\n

He further explained that endorsing memecoins\u2014often regarded as a highly speculative part of the cryptocurrency landscape\u2014sends a strong supportive message for the industry.<\/p>\n

Economist Noelle Acheson, author of the \u201cCrypto is Macro Now\u201d newsletter, echoed this perspective by describing the memecoin launches as a progressive step, indicative of Trump\u2019s willingness to explore innovative market opportunities.<\/p>\n

<\/span>Positive Outlook for Bitcoin: Analysts Eye $130,000 Target<\/span><\/h2>\n

The recent surge in Bitcoin began accumulating momentum last week amid rumors that Trump might issue an executive order prioritizing cryptocurrency early in his presidency.<\/p>\n

Gracy Chen, CEO of the crypto exchange Bitget, highlighted that this optimism is significantly affecting Bitcoin\u2019s price movement. \u201cSpeculation about cryptocurrency being declared a national interest during the inauguration is positively impacting Bitcoin\u2019s pricing,\u201d Chen stated.<\/p>\n

However, Chen warned that the announcement of Trump family tokens might divert some investments that could have further propelled Bitcoin\u2019s growth.<\/p>\n

Looking forward, analysts are generally optimistic about Bitcoin\u2019s future. With the price surpassing the $109,000 mark, experts, including Kruger, suggest it could continue to rise, with $130,000 being a potential target.<\/p>\n

<\/p>\n

As of now, BTC is maintaining around $107,730 after a modest 0.5% decrease in the last trading hours prior to Trump\u2019s inauguration.<\/p>\n

Image credit: DALL-E, chart credit: TradingView.com<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC), the top cryptocurrency, has achieved a new record high, exceeding $109,000 on Monday, with excitement growing over the upcoming inauguration of President Donald Trump. Trump Family\u2019s Memecoins Spark Market Activity According to CNBC, this spike in Bitcoin\u2019s value is linked to the recent introduction of two memecoins by the Trump family. This weekend, […]<\/p>\n","protected":false},"author":14,"featured_media":26536,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Bitcoin Soars Beyond $109,000 on Inauguration Day: A Milestone Moment for Cryptocurrency - Bitrabo","description":"Bitcoin (BTC), the top cryptocurrency, has achieved a new record high, exceeding $109,000 on Monday, with excitement growing over the upcoming inauguration of P"},"footnotes":""},"categories":[316],"tags":[448,724,10758,591,2241,1700,4333],"class_list":["post-26535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-day","tag-inauguration","tag-presidential","tag-recordbreaking","tag-surges","tag-trumps"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/26535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=26535"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/26535\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/26536"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=26535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=26535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=26535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}