Bitcoin Hits $108,000 Ahead of Trump’s Inauguration

The price of Bitcoin surged past the $108,000 mark on Monday, hours before Donald Trump’s inauguration as the 47th President of the United States.

According to data from CoinMarketCap, a leading crypto asset price-tracking platform, this new all-time high follows an earlier drop to $99,664 in the early hours of Monday.

Over the past 24 hours, Bitcoin experienced a 3.3 percent increase, accompanied by a trading volume surge to $111 billion. The overall cryptocurrency market capitalization also climbed by $484 billion, reaching $3.95 trillion during the same period.

Market data reveals that Bitcoin accounts for 55 percent of the total market capitalization, with Ethereum — the second-largest cryptocurrency, priced at $3,396 — holding a 10.6 percent share. Other cryptocurrencies make up the remaining 33 percent.

Bitcoin’s upward momentum began on November 5, following Trump’s victory in the U.S. presidential election. The cryptocurrency reached $75,000 on election day and crossed the $100,000 milestone a month later — a first in its 15-year history.

In a related development, Trump previously launched his own cryptocurrency, $TRUMP, which fueled a market rally that drove its capitalization to $14 billion.

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