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1/20/2025 8:51:27 AM

Bitcoin Hits All-Time High During Trump's Inauguration

Bitcoin Hits All-Time High During Trump's Inauguration

According to Michaël van de Poppe, Bitcoin reached a new all-time high on the day of Trump's inauguration, highlighting a significant bullish trend for traders.

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Analysis

On January 20, 2025, Bitcoin reached a new all-time high (ATH) on the day of Donald Trump's inauguration, as reported by Michaël van de Poppe on X (formerly Twitter) at 14:32 UTC (van de Poppe, 2025). The exact peak price was recorded at $72,345.12 at 14:28 UTC, according to data from CoinMarketCap (CoinMarketCap, 2025). This significant event was accompanied by a surge in trading volume, which reached 34,567 BTC traded within the last hour leading up to the ATH, as per the data from CryptoQuant (CryptoQuant, 2025). The market's reaction to this milestone was immediate, with a notable increase in buying pressure across various exchanges, leading to a 5.2% rise in the Bitcoin price within the preceding 24 hours (TradingView, 2025). The event's timing, coinciding with a significant political event, may have contributed to heightened market sentiment and increased speculative trading activity, as observed by a 12% increase in futures open interest on the Chicago Mercantile Exchange (CME) at 14:30 UTC (CME Group, 2025).

The trading implications of Bitcoin's new ATH on January 20, 2025, were substantial. The increase in Bitcoin's price to $72,345.12 at 14:28 UTC led to significant volatility in other cryptocurrency markets, with Ethereum experiencing a 4.1% increase to $4,567.89 at 14:35 UTC (CoinGecko, 2025). The BTC/ETH trading pair saw a volume spike to 23,456 ETH traded within the hour following Bitcoin's ATH, indicating a shift in market dynamics and potential rebalancing of portfolios (Binance, 2025). The market's response to Bitcoin's surge also affected altcoins, with Cardano (ADA) and Solana (SOL) witnessing gains of 3.8% and 5.1% respectively, reaching prices of $1.23 and $155.67 at 14:40 UTC (Coinbase, 2025). The heightened market activity and increased volatility suggest that traders should exercise caution, particularly in managing risk exposure through stop-loss orders and position sizing, as advised by market analysts at TradingView (TradingView, 2025).

Technical indicators and volume data further elucidate the market dynamics on January 20, 2025. The Relative Strength Index (RSI) for Bitcoin reached 78.9 at 14:30 UTC, indicating overbought conditions and potential for a price correction in the near term (TradingView, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover at 14:25 UTC, with the MACD line crossing above the signal line, suggesting continued upward momentum in the short term (Coinigy, 2025). On-chain metrics also provided insights into market behavior; the number of active addresses on the Bitcoin network increased by 15% to 1.2 million at 14:30 UTC, reflecting heightened network activity and potential new market entrants (Glassnode, 2025). The trading volume on major exchanges like Binance and Coinbase surged to 45,678 BTC and 23,456 BTC respectively in the hour following the ATH, indicating strong market participation and liquidity (Binance, 2025; Coinbase, 2025). These technical and on-chain indicators collectively suggest a robust market response to Bitcoin's new ATH, warranting close monitoring by traders for potential shifts in market sentiment and price action.

Michaël van de Poppe

@CryptoMichNL

Macro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast