EddieJayonCrypto
20 Jan 25
The cryptocurrency market experiences extreme volatility as BTC surges to nearly $110,000 before the inauguration of President-elect Donald Trump. The wild ride includes the launch of meme coins by Trump and his wife, causing market shockwaves. Despite a significant slump, BTC rapidly recovers, sett...
The cryptocurrency market experiences extreme volatility as BTC surges to nearly $110,000 before the inauguration of President-elect Donald Trump. The wild ride includes the launch of meme coins by Trump and his wife, causing market shockwaves. Despite a significant slump, BTC rapidly recovers, setting a new all-time high. The heightened volatility aligns with Trump's impending inauguration, with further fluctuations anticipated.
It has been a wild ride in the crypto space in the past several days. It all started on Friday when the upcoming US president launched his own meme coin that sent shockwaves across the entire market. The controversy continued in the past 24 hours as his wife released a meme coin of her own. BTC and most altcoins slumped hard, as the primary cryptocurrency even dumped below $100,000 at one point. Yet, the bulls are back in charge as they initiated a massive leg up in the following hours. Bitcoin managed to recover all losses and shot up to $109,420 (on Bitstamp) to break its December all-time high and charts a new one. This places BTC’s market cap at well over $2.1 trillion.
This enhanced volatility and new record come just hours ahead of Trump’s inauguration, which is scheduled to take place later today. Given his relationship and promises to the industry, more fluctuations are expected as the day progresses.