20 Jan 2025

• Bitcoin jumps to a new all-time high of $109,588 on Monday.
• Bitcoin open interest crosses $71 billion as crypto market heats up for Trump’s inauguration. 
• Bitcoin volatility climbs to 73%, and bullish sentiment suggests traders expect short-term market swings, positioning for the upside. 
• Higher demand for upside leverage supports gains in Bitcoin price, BTC enters price discovery
• Bitcoin (BTC) experienced a remarkable surge, reaching an unprecedented high of $109,588 on Monday. This significant increase in value comes as cryptocurrency traders express optimism about potential gains in the market, particularly in light of the upcoming inauguration of President-elect Donald Trump. Many market participants believe that the new administration could bring about favorable regulatory changes and economic policies that may positively impact the cryptocurrency landscape.
  
  In the derivatives market, traders are actively positioning themselves to capitalize on the anticipated rise in Bitcoin's price. This strategic maneuvering indicates a strong belief among investors that BTC will continue to appreciate in value in the near future. However, analysts caution that while the short-term outlook may be bullish, it is also accompanied by expectations of price volatility. Such fluctuations are not uncommon in the cryptocurrency market, which is known for its rapid and often unpredictable price movements.
  
  Despite the potential for short-term volatility, many experts predict that Bitcoin's price will stabilize in the weeks following the inauguration. This stabilization could be driven by a combination of factors, including increased institutional adoption, improved market sentiment, and a clearer regulatory framework emerging under the new administration. As traders and investors navigate this dynamic landscape, the overall sentiment remains cautiously optimistic, with many looking to Bitcoin as a key asset in their portfolios.
  
  In summary, the recent surge in Bitcoin's price reflects a broader sense of anticipation and excitement within the cryptocurrency community, as traders prepare for what they hope will be a period of sustained growth and stability in the market.
• Bitcoin reaches a new high of $109,588
  
  Bitcoin has successfully converted the $100,000 threshold into a support level and surged to a new record on Monday, January 20. The primary driver of this increase is the inauguration of President-elect Donald Trump, coupled with a favorable outlook among traders and renewed interest from institutional investors.
  
  Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) reinforce the expectation of continued price appreciation for Bitcoin. The RSI currently stands at 66 and is trending upwards, while the MACD displays a series of consecutive green histogram bars, both indicating robust bullish momentum.