Bitcoin spiked to a new all-time high early Monday but pulled back following the inauguration of President Donald Trump.

Bitcoin (BTC), the world’s oldest and most valued crypto, managed to rise above the $102,000 mark early Monday. O ther popular altcoins — including the likes of Ethereum (ETH)

Bitcoin surged to an all-time high on Monday, hours before Donald Trump took office as President of the United States. Over the course of Monday, Bitcoin spiked to $109,350 before dipping below $105,000.

Donald Trump has been sworn in as the 47th President of the US. Experts see Bitcoin pushing further up in the first 100 days of Trump 2.0.

But as his presidency approached, he also offered more specific support to the cryptocurrency market. After the launch of his own $TRUMP coin, his wife launched her own $MELANIA competitor – the combination of which led to volatility in the cryptocurrency market.

The price of Bitcoin ( BTC 3.64%) soared 119% in 2024, and the bulls have been out in full force lately, making predictions about where the cryptocurrency is headed this year. Most recently, the head of research at Fundstrat, Tom Lee, said the price of one Bitcoin could reach as high as $250,000 by the end of 2025.

The fall comes after the cryptocurrency experienced a meteoric rise, fueled in part by the reelection of Donald Trump.

Donald Trump assumes office with plans to make the U.S. the bitcoin mining capital, causing concerns over centralization, institutional control, and bitcoin's future.

The CEO of video sharing platform Rumble said it has bought Bitcoin, less than two months after announcing a treasury reserve strategy.

Trump launched the digital token with branding including an image from an assassination attempt on him in July.

While many attribute this success to the current administration's crypto-friendly stance, cryptocurrency's fundamental resilience might transcend political leadership.