Bitcoin (BTC) soared to a new record high above $109,000 during Asian trading hours on Monday, just ahead of Donald Trump’s inauguration. The price reached $109,333 on Binance, marking a significant milestone. Trump highlighted Bitcoin’s impressive performance in a speech, noting its record-breaking streak alongside gains in the U.S. stock market.

Despite earlier losses, Bitcoin rebounded, driven by optimism surrounding Trump’s pro-crypto stance and his promises, such as designating the U.S. as the "crypto capital" and creating a "strategic national bitcoin reserve." The launch of the TRUMP and MELANIA memecoins also contributed to the surge, attracting retail investors and fueling hopes of stronger crypto policies under the new administration.

Bitcoin’s dominance has risen to nearly 60%, with a significant market cap differential of $1.75 trillion compared to Ether (ETH), signaling its continued bullish momentum. Year-end Bitcoin targets range from $185,000 to $250,000, with expectations for continued growth throughout the week.