$BTC reached a new all-time high of $110,000 ahead of Trump taking the U.S. Presidency.

Analysts caution traders about market volatility, as liquidity challenges and resistance at $110,000 could lead to price corrections.

Bitcoin has continued to break records, and on 20th January, it crossed the $110,000 mark for the first time ever. The cryptocurrency rose by 3.09% and was trading at $108,000 after the rally. This performance has driven the total crypto market capitalization to $2.14 trillion.

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The spike coincides with market expectations for President-elect Donald Trump’s inauguration speech. Marker rumors indicate that Trump may be planning to consider the establishment of a Bitcoin strategic reserve. There is no official word on it, but the rumors have added more fuel to the fire and increased buying pressure.