After a slow start to 2025, Bitcoin has regained momentum and even briefly broke through $102,000. The rally follows the release of favorable US Consumer Price Index (CPI) data for December and comes as President-elect Donald Trump’s inauguration day approaches.
Bitcoin Soars!
As noted, Bitcoin’s rally appears to be back, with the cryptocurrency currently quoted at $101,644.61, reflecting a 1.95% increase in the past day. Its market capitalization stands at $2.01 trillion, while the 24-hour market volume is $56.12 billion, indicating a strong alignment with our predictions for Bitcoin.
Despite a 10% drop from its December high of $106,000, Bitcoin has surged 8.4% over the past week. Glassnode data shows that Bitcoin remains above key support levels, maintaining its bullish structure and signaling a potential relief rally.
CPI Data and Trump’s Upcoming Presidency Propel Bitcoin
Bitcoin’s recent surge began after the release of CPI data, which provided favorable projections for cryptocurrencies. The CME FedWatch Tool indicates a 30% probability of a rate cut in March, a factor that typically supports cryptocurrency markets. Additionally, all eyes are on Donald Trump’s inauguration day, with many experts predicting that he will prioritize cryptocurrencies as a national agenda. Speculation is rife that Trump might establish a crypto advisory council comprising industry veterans and could even introduce executive orders related to cryptocurrency on his first day in office. The push for Bitcoin Reserve bills in several U.S. states has further bolstered Bitcoin’s rally.
John Glover, CIO at Ledn, highlighted the market sentiment, stating, “The Bitcoin market is optimistic about potential rate cuts, but further price action hinges on Trump’s crypto policy moves.” As Trump prepares to take office on January 20, Bitcoin is expected to be one of the priorities on his agenda.
Also Read: Thailand Considers Listing of Bitcoin ETFs to Bolster APAC Crypto Hub Ambitions
