Today’s Crypto Price: Bitcoin price rises above $102,000 ahead of Trump’s inauguration

Bitcoin It rose back above the $102,000 level on Friday, driven by market optimism ahead of the president-elect’s election. Donald Trumpopening.

The largest in the world Cryptocurrency It gained more momentum after Wednesday’s fundamental data in the US showed Economic inflation Interest rates rose less than expected in December, raising the possibility that the Fed will make additional rate cuts.

The Consumer Price Index rose 2.9% year-on-year in December, compared to 2.7% in November. However, core inflation, which excludes food and energy prices, rose 3.2%, below expectations of 3.3%.

As of 11:14 a.m. EST, Bitcoin was trading at $101,364, up 2%, after reaching an intraday high of $102,037. Ethereum, on the other hand, saw a slight decline, falling by 0.2% to $3,359.“Bitcoin is trading at over $101,000 with market sentiment boosted by reports of Trump planning to make cryptocurrencies a national priority,” said Idul Patel, CEO of Mudrex.

“Reports indicate that Donald Trump is planning to issue an executive order prioritizing cryptocurrencies nationally in the US, which has sparked optimism among investors,” added Shivam Thakral, CEO of BuyUcoin. Avinash Shekhar, Co-Founder and CEO of Pi42, noted, “Bitcoin’s return to the psychological level of $100,000 not only signifies a benchmark, it also signals the convergence of cold inflation, institutional optimism, and renewed investor confidence in BTC. The possibility of monetary easing by the Fed is pushing both BTC and… Alternative currencies He loves XRPmarking the beginning of a new phase in the cryptocurrency market. Trump 3 Days Left as President: What Should Cryptocurrency Investors Take into Consideration?

Major altcoins also saw significant gains on Friday. The price of XRP rose by 8.5%. Solana rose by 4.5%, and Dogecoin By 2.5%. Other notable moves included Cardano, which rose 6.9%, and big gains from Tron (3.4%), Chainlink (11%), Hedera (17%), and Litecoin (17%).

“Altcoins are getting attention, especially Litecoin, which is nearing SEC approval for its exchange-traded fund, and XRP, which is on track to hit a new all-time high. Right now, it’s facing Bitcoin resistance at $102,700 with support at $98,100.”

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