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Bitcoin hits new all-time high near $110k amid optimism for Trump’s second era

Ethereum, XRP, Solana, and others ride Bitcoin's bullish wave amid Trump's return.

CryptoSlate

Jan 20

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Happy Monday!

Bitcoin has reached a remarkable new all-time high of nearly $110,000, fueled by rising optimism surrounding Donald Trump’s upcoming inauguration as the 47th President of the United States. As the crypto market reacts positively to anticipated pro-crypto policies, other major cryptocurrencies like Ethereum, XRP, and Solana are also experiencing significant gains. Meanwhile, discussions about establishing a Bitcoin Reserve in the U.S. are gaining traction, with political support growing for this concept as a potential solution to the nation's financial challenges. As markets speculate on a 64% chance of this reserve being implemented by 2025, all eyes are on Trump's administration and its influence on the future of cryptocurrency in America.

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The global crypto market cap is $3.62 trillion, with a 24-hour volume of $355.73 billion. The price of Bitcoin is $105,179.16, and BTC market dominance is 57.4%. The price of Ethereum is $3,334.78, and ETH market dominance is 11.1%. The best-performing sector is Debit Card, which gained 27%. The Crypto Fear & Greed Index is currently Greed (76).