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Bitcoin reached a new all-time high just below $109,000 on Monday, as the cryptocurrency industry grew increasingly optimistic ahead of Donald Trump’s inauguration as President of the United States. The price remains significantly up from last week, with Bitcoin trading at over $106,000 at the time of writing.

Bitcoin has rebounded to over $97,000 at the time of writing, after hitting its lowest level since November. This bounce reflects a clear rejection of levels below $90,000, briefly reached yesterday morning. The technical candlestick formed during this recovery is particularly encouraging.

To all our readers, please accept our best wishes for health, happiness, and prosperity in the New Year!

In the cryptocurrency world, the year has started on a mixed note. After nearly a full week of steady gains, yesterday’s trading erased most of these advances.

The cryptocurrency market is experiencing a significant downturn following Wednesday’s announcement of a 25-basis-point rate cut by the U.S. Federal Reserve (Fed). Although this decision was anticipated, the firm comments from Fed Chair Jerome Powell, signaling a slowdown in future rate cuts and upwardly revised inflation forecasts for 2025, have heightened risk aversion across markets.

Bitcoin’s price hit a new all-time high of $107,800 USD yesterday before slightly retreating. Currently, the world’s largest cryptocurrency is trading around $107,300 and could quickly shatter new records.

Recent weeks have shown a recurring pattern for Bitcoin, with significant inflows into exchange-traded funds (ETFs) and ongoing purchases by MicroStrategy. For the first time, Bitcoin surpassed the psychological threshold of $100,000.

In November, exchange-traded funds (ETFs) specializing in Bitcoin and Ethereum in the United States recorded net inflows of $7.6 billion, marking a record high. This performance reflects the market’s evolution, with ETFs increasingly becoming the primary tool for traditional financial players to access cryptocurrencies.

Here we are, two weeks later. Meanwhile, bitcoin has shown significant progress during this period, almost reaching the critical psychological milestone of $100,000. Its price has been retreating for the past few days, but there is no doubt that the bull market remains intact and in good health.