The crypto market has kicked off the week with dramatic price swings, with Bitcoin (BTC) hitting a new all-time high of over $109,000 on Monday, 20 January 2025.
Importantly, it comes amid a backdrop of significant economic events. This includes Donald Trump’s inauguration as the 47th President of the US and global macroeconomic developments that could shape crypto market sentiment in the days ahead.
Explore: Bitcoin Hits New Record High! BTC Rises 6% To Surge Past $109,000
Bitcoin’s Rollercoaster Ride
Bitcoin began the week with extreme volatility, briefly dipping below $100,000 before rebounding sharply to surpass $109,000.
This marks a continuation of its bullish momentum, which has seen the cryptocurrency rise from $70,000 in November 2024 to its current heights.
Notably, the total cryptocurrency market capitalization also surged to $3.72 trillion before retracing slightly.
Altcoins mirrored Bitcoin’s volatility but have started to recover, posting impressive gains in recent hours.
The market’s dramatic movements highlight the ongoing enthusiasm for digital assets despite broader economic uncertainties.
Volatility is going wild ahead of @realDonaldTrump‘s inauguration!
We’ve seen massive moves in the past week, will the momentum continue, is this just the beginning?
Drop your thoughts in the comments and let’s discuss!
pic.twitter.com/oBo30w3Ksn
— Crypto Volatility Index (CVI) (@official_CVI) January 20, 2025
Trump’s Inauguration And Its Crypto Implications
Donald Trump’s inauguration on 20 January 2025 is a pivotal event for both traditional and cryptocurrency markets.
Known for his pro-crypto stance during his campaign, Trump has pledged to transform the US into a “crypto capital” through favorable regulations and initiatives like creating a Strategic Bitcoin Reserve. His administration is expected to include crypto-friendly figures in key regulatory roles, which has fueled optimism among investors.
Over the weekend, Trump launched his own memecoin, aptly named $TRUMP, which initially surged to a valuation of over $70 billion before experiencing a sharp correction. The token’s launch underscores the growing intersection between politics and cryptocurrency.
While US markets remain closed for Martin Luther King Jr. Day, investors are closely watching for potential executive orders from Trump that could impact financial markets when they reopen on Tuesday.
Global Economic Calendar: Key Events This Week
The week ahead features several critical economic events that could influence both traditional and crypto markets:
Thursday, 23 January 2025 – The US labor market will be under scrutiny as jobless claims data is released. A rise in claims could signal economic weakness, potentially affecting consumer confidence and investment in risk assets like Bitcoin.
Friday, 24 January 2025 – S&P Global Manufacturing and Services PMI indices will provide insights into economic activity in January, serving as leading indicators for broader economic trends.
Thursday, 23 January 2025 – European Central Bank Meeting- Investors are anticipating signals about potential interest rate cuts in 2025, which could impact global liquidity and risk appetite.
Friday, 24 January 2025 -Speculation about a possible rate hike by the Bank of Japan has raised concerns about its impact on global markets and liquidity-sensitive assets like cryptocurrencies.
New Crypto Coins To Buy?
Donald Trump – the United States’ 47th president, has just launched a meme coin. OFFICIAL TRUMP (TRUMP) is the only meme coin officially endorsed by Trump. It’s already trading with a market capitalization of several billion dollars, making it one of the biggest meme coins in this space.
Launched on 17 January 2025, early buyers have witnessed substantial gains, with TRUMP already boasting a mammoth market capitalization.
This guide offers an OFFICIAL TRUMP price prediction. Read on to discover TRUMP’s short and long-term potential, alongside the project’s key investment risks.
Related: OFFICIAL TRUMP (TRUMP) Price Prediction 2025 – 2030
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