Bitcoin Hits Record $108K, Trump Victory Fuels Strategic Reserve Speculation

Bitcoin Marks New All-Time High Price Above $108K as XRP Jumps

  • Bitcoin reached a new all-time high of $108,135 before experiencing a sharp correction.
  • Over $600 million flowed into U.S. spot Bitcoin ETFs in a single day.
  • XRP surged 6% following Ripple‘s RLUSD stablecoin launch.
  • Exchange tokens BGB and CRO posted 11% gains in 24 hours.
  • Market anticipates potential U.S. government strategic Bitcoin reserve initiative.

Bitcoin set a new price record of $108,135 on Tuesday morning in New York, marking its third consecutive day of all-time highs amid strong institutional demand through newly launched exchange-traded funds and potential government initiatives.

- Advertisement -

The leading cryptocurrency settled at $107,020 after the peak, showing a modest 0.3% increase over 24 hours while maintaining a robust 12% gain for the week, according to CoinGecke data.

ETF Inflows Accelerate

Institutional investment continues to drive the market momentum, with U.S. spot Bitcoin ETFs attracting more than $600 million in a single day.

The ten approved funds, which began trading on major stock exchanges, have seen record-breaking inflows as traditional investors seek cryptocurrency exposure through regulated vehicles.

Market sentiment received an additional boost from political developments, as President-elect Donald Trump‘s supportive stance on digital assets influenced investor confidence. Trump’s statement at a recent conference advising “never sell your Bitcoin” has sparked speculation about potential government involvement in the cryptocurrency sector.

Altcoin Market Dynamics

The broader cryptocurrency market showed mixed performance:

  • XRP rose 6% to $2.63, responding to Ripple’s new RLUSD stablecoin launch
  • Stellar (XLM) increased 5% to $0.44
  • Bonk, a Solana-based token, gained 4% to reach $0.000036
  • Exchange tokens Bitget Token (BGB) and Cronos (CRO) both advanced 11%

Despite recent gains, both XRP and Stellar remain below their 2018 peak levels. XRP briefly touched $2.82 earlier this month, representing a seven-year high, but failed to sustain those levels.

- Advertisement -

The market now focuses on the potential establishment of a U.S. strategic Bitcoin reserve, which would mirror existing government holdings of traditional assets like Gold. Such an initiative could significantly impact institutional adoption and price dynamics in the cryptocurrency market.

✅ Follow BITNEWSBOT on Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

Stay in the Loop

Get exclusive crypto insights, breaking news, and market analysis delivered straight to your inbox. No fluff, just facts.

- Advertisement -

    1 Email per day. Unsubscribe at any time.

    - Advertisement -

    Latest News

    Coinbase Launches Decentralized Exchange Trading in the US

    Coinbase will add decentralized exchange (DEX) trading to its app for U.S. users, except...

    Presearch 3.0 Launch, New Partnerships, Node Beta Testers Needed

    Presearch prepares to launch version 3.0, aiming to significantly expand its platform capabilities. The project...

    ICP Empowers Users With Full Control Over Their Data Online

    The growing shift to online platforms increases the amount and value of personal data...

    S&P Global Gives Sky DeFi Protocol B- ‘Junk’ Credit Rating

    S&P Global gave decentralised finance platform Sky a B- credit rating, treating it as...

    BBVA Provides Off-Exchange Custody for Binance Crypto Assets

    BBVA has started to offer off-exchange custody for the Binance cryptocurrency platform. This service allows...

    Must Read

    7 Best Audiobooks on Cybersecurity

    Cybersecurity has become an essential topic in our increasingly digital world. As technology evolves and becomes more integrated into our daily lives, the importance...