The largest cryptocurrency rose as high as $109,333 on the Binance platform. This allowed Bitcoin to break its previous record and reach an all-time high.

In a speech on Sunday, Trump brought up Bitcoin reaching record levels and the rise in the US stock market in general.

Trump stated that the stock market showed a great increase after the elections and emphasized that the optimism of small businesses increased at a record level. He expressed his belief in the strong performance of the digital asset market, noting that Bitcoin is breaking a new record every day.

Bitcoin’s rise parallels Trump’s support for cryptocurrencies. During his campaign, Trump increased interest in cryptocurrencies with his promises to make the USA the “crypto capital” and create a “strategic bitcoin reserve”. His statements and promises about crypto currencies created great optimism among investors.

BTC had fallen below the $100,000 level earlier that day and rebounded to a peak of over $102,000. However, with the impact of Trump’s statements and the memecoins previously released by First Lady Melania Trump, the value of Bitcoin rose again.

Melania Trump’s memecoin caused liquidity to drain from major assets, allowing Bitcoin to rise again. This stood out as a remarkable development in the cryptocurrency market.

Bitcoin’s rise was supported not only by Trump’s statements but also by the launch of the TRUMP and MELANIA memecoins. These memecoins attracted more retail users to the cryptocurrency market and directed the attention of new investors to Bitcoin and other digital assets.

Ben El-Baz, Managing Director of HashKey Global, stated that Bitcoin’s rise to $108,000 was accelerated by the developments before the US presidential inauguration.

The belief that new regulations and policies will push the price of Bitcoin even higher encouraged investors. El-Baz stated that Trump’s emphasis on his commitment to the cryptocurrency industry is a positive sign for the future of Bitcoin.

This rise of Bitcoin also benefited other cryptocurrencies under Bitcoin’s leadership. The increase in BTC led to the increase in value of other digital assets such as Ethereum (ETH).

However, the market cap gap between Bitcoin and Ethereum has gradually widened. Bitcoin’s market dominance has increased and is now approaching 60%, indicating that Bitcoin is attracting more interest and investment.

Year-end Bitcoin targets range from $185,000 to $250,000. In the cryptocurrency world, these expectations may increase even more with the strong rise of Bitcoin. However, market fluctuations and global economic developments can also affect Bitcoin’s price.

Bitcoin reaching these record levels has further strengthened its power and influence in the cryptocurrency market. This is seen as an exciting development for investors.