On January 17, 2025, Bitcoin reached a peak of $104,696, its highest level in nearly a month, as it approaches the $105,000 mark ahead of President-elect Donald Trump's inauguration. Currently priced at $104,585, Bitcoin has increased nearly 5% in the last 24 hours and is about 3% shy of its all-time high of $108,135 recorded in December.
The cryptocurrency has surged nearly 12% over the past week, rebounding from a low of under $90,000 earlier in the week amid macroeconomic concerns. Investor sentiment is buoyed by expectations of crypto-friendly policies from the incoming administration, although analysts caution that delays in implementation could lead to a 'sell the news' reaction.
Spot Bitcoin ETFs saw significant inflows of $755 million and $626 million on January 17 and 18, respectively, marking a turnaround after four days of outflows. As trading continues around the clock, the market is poised for potential volatility following Trump's inauguration on January 20.