Bitcoin trades at over $100,000 to watch Trump’s inauguration

Bitcoin rose above the $100,000 mark, trading at around $102,000 — up more than 4% in one day. This rise is due to the “January effect” as investors return from vacation and inject new capital into the market. Investors are also closely watching Donald Trump’s inauguration on January 20 and the departure of SEC Chairman Gary Gensler.

The boom in the crypto market Fueled by optimism surrounding Trump’s potential impact on the sector. Many investors hope that he will deliver on his promises to boost growth in the cryptocurrency space. Including making the United States a global center for cryptocurrency mining and establishing Bitcoin as a reserve asset. While the details of his plans are still unclear, investors are currently celebrating Trump’s return to the White House.

Bitcoin ETFs are back in action

It’s not just Bitcoin that is seeing a boost. Bitcoin ETFs (Exchange Traded Funds) It is 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 FBTC Leading the way with inflows of $357 million, it follows BlackRock’s IBIT In the amount of 253 million dollars.

Other major cryptocurrencies are also on the rise

In addition to Bitcoin, Ethereum’s native symbol, etherrose more than 2% in one day, to trade at around $3,600. Solana, Dogecoin, and Cardano also saw gains, rising 2.4%, 1.5%, and 2%, respectively, reflecting growing optimism across the cryptocurrency market.

MicroStrategy buys 1,070 Bitcoin

The rise in the price of Bitcoin has also sent cryptocurrency stocks higher. Cryptocurrency exchange Coinbase (currency+7.65%Shares jumped 6.3%, while MicroStrategy shares jumped (MSTR+12.05%) by 5.5% after reports of recent Bitcoin buying. Today, Business Intelligence Inc He bought 1,070 coins for approximately $101 million. This acquisition brings MicroStrategy’s total Bitcoin holdings to 447,470 coins, worth $45.67 billion at the current price level.