At 06:00 UTC on January 20, 2025, Bitcoin achieved an all-time high of $109,500, marking a significant milestone for the cryptocurrency market. This record-breaking surge followed a sharp decline earlier in the day, when Bitcoin dropped to $99.50 during a brief sell-off.
The market’s initial drop occurred just hours before the inauguration of U.S. President-elect Donald Trump, creating uncertainty among some investors. However, optimism surrounding potential crypto-friendly policies under the new administration quickly reversed the downward trend.
The rebound gained momentum as buying pressure increased, driven by the expectation that the new government would implement favorable regulations for the cryptocurrency market. By 06:00 UTC, Bitcoin’s price had skyrocketed past its previous high of $108,000, set on December 17, 2024, establishing a new benchmark.
Interestingly, this surge was largely isolated to Bitcoin, as other cryptocurrencies did not experience similar gains. Analysts attribute this to Bitcoin’s dominance in the market and its role as a preferred investment during periods of uncertainty.
As the market stabilizes, investors and analysts alike are closely watching for further developments, with hopes of sustained growth in the crypto sector under the new administration.
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