Bitcoin Price Prediction: BTCUSD Set to Challenge $110K as Trump Takes Office

Bitcoin price rose to new all-time highs of $109,356 on Monday, on the day when Donald Trump was set to take the oath of office as the 47th US President.

Bitcoin price reached new all-time highs on Monday, continuing its relentless rally as Donald Trump was set to take the oath of office for a second term as US President. The flagship digital asset was trading at $109,356, up by 10% in the last 24 hours.

Bitcoin price has been surging higher since Trump won the November 2024 elections. The crypto coin rallied by over 13% in the last month alone and is now up by more than 300% year-to-date.

The next major resistance for BTC price is seen at the $110,000 mark. Investors will also be closely watching Trump’s inaugural speech for any potential hints on his plans for the digital assets industry.

Bitcoin price 24-hour traded volume was up by 121% at the last check, as Bitcoin price continued its rally. This suggests that more investors are piling into the crypto coin, which could provide further support to its uptrend.

Meanwhile, Bitcoin ETF performance also saw a shift on Friday, with nine of the eleven ETFs recording $975.6 million in inflows, up from Thursday’s $626 million. The total ETF inflows for the week also amounted to a record high of $3.2 billion.

However, the utility-driven altcoins like XRP, XLM, and SOL outperformed major cryptocurrencies in the top-100 ranking by market cap. Meme coins, on the other hand, saw little gains. XRP price rallied by 20% to reach highs of $0.84, while XLM and SOL prices both surged by 15%.

Overall, the global crypto market capitalisation reached a record high of $3.73 trillion at the last check.

Bitcoin Price Prediction

The momentum on Bitcoin price suggests further gains are in the cards as long as price action stays above the $105,860 pivot. With the buyers in control, BTCUSD will likely continue higher to the first resistance at $109,500. However, extended buying pressure could enable buyers to break above that level and test the next resistance at $111,500.

On the other hand, a shift in momentum to the downside will occur if price action moves below the $105,860 pivot. This will likely see the first support coming at $103,490. However, extended selling pressure will break below that level and set the next target to the pivot at $100,530.