Bitcoin reached a new historical peak by reaching $106,648 during the night hours. Donald Trump's statements after the presidential elections and positive expectations in the markets played a major role in this rise of the cryptocurrency. These developments increased investors' interest in Bitcoin and initiated a strong buying wave in the cryptocurrency market.
Trump’s statements over the weekend were a major factor in Bitcoin reaching record levels. Trump responded positively to a journalist’s question, “Have you considered a strategic reserve for Bitcoin?”, giving the message that the US administration could take concrete steps towards cryptocurrencies. The American media emphasized that this reserve was among the Trump administration’s top priorities.
This statement had a huge impact on the markets and led investors to Bitcoin. Investors started buying heavily, thinking that Bitcoin could gain a more solid place in the traditional financial system. The idea of a strategic reserve gave signals that Bitcoin could be considered a more reliable investment tool in the future.
Another reason for Bitcoin’s rise was the upcoming US Federal Reserve (Fed) interest rate decision. This week, the Fed is expected to cut interest rates by 25 basis points. This possibility has increased attention to the impact of Fed policies on markets.
The decline in interest rates stands out as a major factor driving investments into cryptocurrencies. This makes the US dollar less attractive, while increasing investors’ demand for alternative instruments. Bitcoin continues to gain value by benefiting from these economic trends.
Bitcoin’s current trading price is around $104,700. It is eagerly awaited how the cryptocurrency market will proceed in line with the Trump administration’s moves and the Fed’s decisions.