Bitcoin is trading above $100,000 watching Trump’s inauguration

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Bitcoin has surged above the $100,000 mark, trading at around $102,000—a gain of over 4% in a single day. This rally is driven by the “January effect” as investors return from the holidays and inject fresh capital into the market. Investors are also closely watching the upcoming inauguration of Donald Trump on January 20 and the departure of SEC Chair Gary Gensler.

The surge in the crypto market is fueled by optimism surrounding Trump’s potential impact on the sector. Many investors hope he will fulfill his promises to foster growth in the crypto space, including making the U.S. the global hub for crypto mining and establishing Bitcoin as a reserve asset. While the specifics of his plans remain to be seen, for now, investors are celebrating Trump’s return to the White House.

Bitcoin ETFs are back in action

Xem thêm : Bitcoin drops to $100,000 as Fed hints at hawkish 2025 – DL News

It’s not just Bitcoin that’s seeing a boost. The spot Bitcoin ETFs (exchange-traded funds) are also gaining momentum. After some hesitation during the holiday season, investors have resumed pouring money into these funds. On January 3rd, a total of $908 million flowed into Bitcoin ETFs, with Fidelity’s FBTC leading the way with $357 million in inflows, followed by BlackRock’s IBIT with $253 million.

Other major cryptos are on the rise, too

In addition to Bitcoin, Ethereum’s native token, Ether, rose over 2% in a day, trading at around $3,600. Solana, Dogecoin, and Cardano also saw gains, up 2.4%, 1.5%, and 2%, respectively, reflecting growing optimism across the crypto market.

MicroStrategy buys 1,070 Bitcoin

The surge in Bitcoin’s price has sent crypto stocks higher as well. Crypto exchange Coinbase (COIN+7.88%) shares jumped 6.3%, while MicroStrategy (MSTR+9.90%) rose 5.5% following reports of its latest Bitcoin purchase. Today, the business intelligence firm bought 1,070 coins for approximately $101 million. This acquisition brings MicroStrategy’s total Bitcoin holdings to 447,470 coins, valued at $45.67 billion at the current price level.