Analytics platform IntoTheBlock announced that 100% of Bitcoin holders are now in profit following a surge in the coin’s price ahead of President Donald Trump’s inauguration. The platform further revealed that the last time all BTC holders were in profit was during the November crypto frenzy after Trump’s win in the presidential elections led the coin from around $80,000 to a new all-time high above $108,000.
The president has been more forthcoming about crypto and crypto-friendly regulations to help the U.S. establish itself as a Bitcoin hub. Trump promised his crypto supporters during his campaign that he would initiate more industry-friendly regulations within the first 100 days in office to fuel crypto market growth in the country.
The president further promised to remove the outgoing U.S. SEC chair, Gary Gensler, from office.
Trump’s expected policies have been major fuel to the current bull cycle, with multiple coins gaining momentum since November. While BTC has outperformed most altcoins, Ether, XRP, LINK, SUI, LDO, and ENA, have kept up with the current market momentum.
Bitcoin has surged significantly over the past 24 hours, reaching an all-time high of $109,114.88 on January 20. The coin’s price has since then corrected by over 1%, trading at $107,728 at the time of writing.
BTC is still up by approximately 18% over the past week and over 9% over the past month. The coin’s trading volumes have also surged significantly, with the current trading volume over 101% higher in the past 24 hours and standing at about $109 billion.
Trump-associated coins surge alongside Bitcoin
Coins associated with President Trump are also in profit as inauguration approaches. The president introduced his memecoin, $TRUMP, on January 17, and it has gained over 720% in value since its launch. The memecoin is now the 18th ranking coin among cryptos by market cap, trading at a little over $53 and a total value of over $10 billion at the time of writing.
The $TRUMP token, which has made the family millions in fees over the past weekend, is also now on notable exchanges, including Kraken.
The president’s wife, Melania Trump, also launched a memecoin, $MELANIA, during the weekend. The $MELANIA memecoin is currently trading at $9.62 with a market cap of a little over $1.7 billion. The coin has climbed the ranking up to the 62nd spot among all cryptos.
A New York Times report suggested that the current crypto holdings by the Trump family makes the president among the richest figures globally. The report also outlined investors’ worries abut the real value of the $TRUMP and $MELANIA memecoins.
Former Fed economist Lee Reiners called the current enthusiasm toward the coins and crypto in general a bubble, which he expects will burst in the near future.
Another price surge is on the horizon
IntoTheBlock further speculated that another price surge and more profits might be on the horizon for crypto holders.
Another crypto analytics platform, Santiment, highlighted in a recent report that BTC bulls are expecting an upward BTC price momentum. Santiment had predicted that the Trump inauguration could trigger more momentum in the current bull cycle and fuel the overall crypto market health.
Other analysts expect the coin’s price to surge after Trump’s official entry into office, with some expecting a surge to over $200,000. VanEck, Galaxy Digital, Maple Finance, Standard Chartered, and JPMorgan are among the financial institutions betting on Bitcoin prices above $180,000 by the end of the year.
One CryptoQuant report also suggested BTC accumulation by institutional investors ahead of a price surge in 2025. Another report from asset management company Fidelity Investment further speculated increased crypto adoption in anticipation of crypto-friendly policies, including the establishment of a BTC reserve in the U.S.
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