Bitcoin Breaks ATH Ahead of Trump's Inauguration...'Trump Rally'

BTC Surges Intra-Day, Hits New Report On 20th...Recorded $108,780
MELANIA Soars 24000%...Memecoin Enthusiasm Lasted with TRUMP
Altcoin Up More Than 3% On Average...'Trump Rally' Set on Jan. 20

Bitcoin(BTC) hit $108,780 during the day ahead of Trump's inauguration as the 47th U.S. president on Jan. 20, setting a new high.

Melania Token(MELANIA), a meme coin of Trump's wife and the next first lady Melania, appeared on Jan. 20, continuing the hot topic with Trump Token (TRUMP), which began on Jan. 18.

Melania tokens have soared more than 24000% in the past 24 hours, reaching about $13. Melania tokens are meme coins that capitalize on Trump's reputation instead of clear utility. "Token is only used for collection and entertainment purposes," the official Melania token website said in the FAQ section, stressing that "this is not a financial product or investment."

While Melania Tokens and Trump Tokens continue to be popular on Jan. 20, a number of altcoins have risen more than 3% ahead of Trump's inauguration, continuing an apparent "Trump rally."

◇Bitcoin = Bitcoin price is $108,295 at 4:30 p.m. on Jan. 17, 2025. The Bitcoin share(dominance) was 58.99%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 50.41% and 49.59%, according to the on-chain analytics platform Sigbtc.

Amid Bitcoin's new record price, prospects have been raised that Bitcoin will rise further with the inauguration of 'pro-cryptocurrency figure' Trump as president.

Weiss Ratings, a U.S. analyst, predicted a surge in Bitcoin's price by unveiling Trump's executive order on his inauguration day.

Weiss Ratings announced in a letter released on the 20th that an executive order prepared by the Bitcoin Policy Institute (BPI) is already ready. If the signature is signed, the U.S. government can purchase $521 billion worth of Bitcoin within 365 days.

Algorand(ALGO)

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Jan. 20 was Algorand(ALGO), which rose about 12%.

Algorand is a Layer 1 platform that came out to solve the blockchain Trilema that Ethereum has, and it has a fast speed and low fee as its motto.

It provides an open source with excellent scalability and openness to host other blockchain-based projects and is responsible for one of the pillars of the 'Etherium Killer' side.

◇Fear Greed Index = The cryptocurrency fear-greed index provided by Alternative has entered the 'Greed' phase with 76 points. The Greed phase is a phase where price volatility and trading volume increase, and the price increases. As it is highly likely to form a short-term high, caution should be taken in selling.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 66.8, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.

권승원 기자 ksw@blockstreet.co.kr