Bitcoin (BTC) soared to a record high surpassing $109,000 during Asian trading hours on January 20, 2025, just before Donald Trump's inauguration. The cryptocurrency rebounded from earlier losses, where it had dipped to around $100,000 earlier in the day, following the announcement of a memecoin by first lady Melania Trump, which diverted liquidity from major assets. Trump's vocal support for cryptocurrencies during his campaign has sparked investor optimism, with promises that the U.S. would become the 'crypto capital of the planet' and the creation of a 'strategic national bitcoin reserve.' This enthusiasm contributed to BTC’s peak price of $109,333 on Binance. Shaurya Malwa, a co-leader of the CoinDesk tokens and data team focused on crypto derivatives, highlighted the significance of this surge.

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