The cryptocurrency market started the week with significant price volatility, with Bitcoin (BTC) reaching a new all-time high of over $109,000 on Monday, January 20, 2025.
More importantly, it comes amid important economic events. This includes the inauguration of Donald Trump as the 47th President of the United States and global macroeconomic developments that could shape cryptocurrency market sentiment in the coming days.
Explore: Bitcoin Reaches New High! Bitcoin rises 6% to exceed $109,000
Bitcoin rollercoaster ride
Bitcoin started the week with extreme volatility, briefly falling below $100,000 before rebounding sharply to surpass $109,000.
TThis represents a continuation of the bullish momentum, which has seen the cryptocurrency rise from $70,000 in November 2024 to its current highs.
Notably, the total market capitalization of cryptocurrencies also rose to $3.72 trillion before declining slightly.
Altcoins have mirrored Bitcoin’s volatility but have begun to recover, posting impressive gains in recent hours.
The dramatic market movements highlight the continued enthusiasm for digital assets despite broader economic uncertainty.
Volatility is going wild in the future @RealDonaldTrumpHis inauguration!
We have seen huge moves in the last week, will the momentum continue, is this just the beginning?
Drop your thoughts in the comments and let’s discuss it!
pic.twitter.com/oBo30w3Ksn
— Cryptocurrency Volatility Index (CVI) (@official_CVI) January 20, 2025
Trump’s inauguration and its implications for cryptocurrencies
The inauguration of Donald Trump on January 20, 2025 is a pivotal event for both traditional and cryptocurrency markets.
Trump, known for his pro-crypto stance during the campaign, has pledged to turn the United States into a “crypto capital” through favorable regulations and initiatives such as the creation of 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, dubbed TRUMP, which initially rose to a value of more than $70 billion before seeing a sharp correction. The launch of the token underscores the growing intersection between politics and cryptocurrencies.
While US markets remain closed for Martin Luther King Jr. Day, investors are closely watching potential executive orders from Trump that could impact financial markets when they reopen on Tuesday.
Global economic calendar: key events this week
Next week features several important economic events that could impact both traditional and cryptocurrency markets:
Thursday, January 23, 2025 – The US labor market will come under scrutiny with the release of unemployment claims data. High claims could indicate economic weakness, which could impact consumer confidence and investment in risk assets such as Bitcoin.
Friday, January 24, 2025 – The S&P Global Manufacturing and Services PMIs will provide insights into economic activity in January and serve as leading indicators of broader economic trends.
Thursday, January 23, 2025 – European Central Bank Meeting – Investors expect signals about possible interest rate cuts in 2025, which could affect global liquidity and risk appetite.
Friday, January 24, 2025 – Speculation about the Bank of Japan potentially raising interest rates has raised concerns about its impact on global markets and liquidity-sensitive assets such as cryptocurrencies.
New cryptocurrencies to buy?
Donald Trump – the 47th President of the United States, has just launched a coin. Official Trump (Trump) is the only meme coin officially endorsed by Trump. It is already trading with a market capitalization of several billion dollars, making it one of the largest cryptocurrencies in the industry.
Launched on January 17, 2025, early buyers have seen big gains, as Trump already has a huge market capitalization.
This guide provides Trump’s official price prediction. Read on to discover Trump’s short- and long-term potential, along with the project’s key investment risks.
RELATED: Official Trump (Trump) Price Forecast 2025 – 2030
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