Bitcoin continues to assert its position as it hits a record high of $105,000, marking a significant breakthrough in 2024. This price increase not only reflects the development of the cryptocurrency market but is also driven by political impacts from the victory of elected President Donald Trump.



Bitcoin Hits a New Peak



With a 3.5% increase on the day, $BTC officially recorded the highest price in history at $105,004. According to data from CoinGecko, this coin has risen over 140% compared to the same period last year and 15% in the past 30 days.



Trump Trade Effect



The crypto market has experienced a significant boost since Donald Trump won the election in November. Breakthrough policy proposals, along with a commitment to make the U.S. the "global crypto capital," are creating an optimistic sentiment.



Lucas Schweiger, Director of Digital Asset Research at #Sygnum commented:


"Proposals for a Crypto Advisory Council and meetings with key figures like Coinbase CEO Brian Armstrong indicate that the new administration will place greater emphasis on the potential of the crypto market for the U.S. economy."



Although policies, including tax cuts for Bitcoin miners and profits from crypto, need to be approved by Congress and the Senate, market sentiment remains positive thanks to clear signals from the government #TRUMP



Factors Driving Price Increase


• Interest rate cuts: According to the FedWatch tool, the Federal Reserve is expected to cut an additional 25 basis points, reducing borrowing costs and encouraging investment in risk assets like crypto.


• Supportive policies from Trump: The appointment of former PayPal COO David Sacks as "AI & Crypto Czar" at the White House further bolsters confidence in the long-term strategy for the crypto industry.



Ripple Effect to Altcoins



Not only Bitcoin, but altcoins like $SUI and Polkadot ($DOT ) are also benefiting greatly from the price increase trend. On the day, SUI rose 7%, while DOT increased by 5.8%, becoming standout names in the top 20 cryptos by market capitalization.



Risk Warning



Despite Bitcoin and other assets experiencing strong growth, investors should be aware that the crypto market always comes with risks. Close monitoring of global political and economic conditions, along with discipline in portfolio management, is crucial for ensuring sustainable profits.



The market is in a vibrant phase, but only smart and cautious investors can fully capitalize on the opportunities. 🚀