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Saturday, February 8, 2025

Bitcoin Nears Record Highs as Trump’s Pro-Crypto Inauguration Sparks Optimism • crypto.ro


Bitcoin, the world’s largest cryptocurrency, climbed to $104,696 on Friday, marking its highest level in practically a month as anticipation grows round President-elect Donald Trump’s pro-crypto insurance policies.

With his inauguration set for Monday, Bitcoin is now simply 3% away from its all-time excessive of $108,135 reached in December 2024.

Pro-Crypto Executive Orders Expected on Day One

Sources have indicated that Trump is more likely to challenge a crypto-related govt order inside hours of assuming workplace. The order is predicted to ascertain a presidential crypto council consisting of trade leaders and CEOs. Additional measures might embody instructing the SEC to repeal regulatory limitations reminiscent of SAB 121, which has been criticized for discouraging institutional involvement in cryptocurrency.

As fears of inflation ease, Bitcoin has surged 12% over the previous week, rebounding from current lows close to $90,000. Spot Bitcoin ETFs additionally recorded important inflows, pulling in $755 million on Wednesday and $626 million on Thursday, in keeping with CoinGlass.

BTC 1Y CHART
BTC 1Y CHART

With the U.S. inventory market closed on Monday for Martin Luther King Jr. Day, many merchants are positioning themselves forward of potential govt orders. Steven Lubka, head of personal purchasers at Swan Bitcoin, famous, “Friday is the final probability for merchants to behave earlier than Trump’s crypto plans are revealed on Tuesday.”

Beyond federal initiatives, some U.S. states are reportedly exploring the institution of state-level Bitcoin reserves, spurred by Trump’s nationwide Bitcoin reserve proposal. Analysts consider this might additional speed up adoption and bolster Bitcoin’s standing as a strategic asset.

Bitcoin Mining Sees Renewed Focus

Trump has additionally vowed to make the U.S. a worldwide chief in Bitcoin mining, promising insurance policies to ship the most cost-effective power globally for miners. The mining trade has responded enthusiastically:

  • MARA Holdings just lately honored Trump by embedding an AI portrait of him on the Bitcoin blockchain, marking him because the “pro-crypto president.”

Bitcoin Mining, Donald Trump

  • Hive Digital relocated its headquarters from Canada to Texas, citing Trump’s election victory and pro-miner insurance policies as key components.



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