Bitcoin price surged to reclaim the $100,000 level on Jan. 15 as the flagship digital asset emerged from a turbulent start to the year.
After weathering bearish pressure near the $90,000 area this past week, Bitcoin (BTC) price steadily climbed to recover above the six-digit mark.
While another correction could still happen, market sentiment remains optimistic about the potential impact of Donald Trumpโs inauguration and what the start of his presidency may mean for cryptocurrencies.
Market intelligence and on-chain analytics platform Santiment pointed to the broader macroeconomic landscape as a key factor behind the upward pressure seen in the past 24 hours. Analysts at the firm highlighted U.S.-themed bullish news as a major catalyst for Bitcoinโs latest gains.
The positive headlines helped Bitcoin bounce more than 4% to reclaim $100k. Altcoins, led by XRP, Stellar, and Algorand, also rallied alongside the flagship cryptocurrency.
According to Santiment, one of the bullish drivers relates to the incoming Trump administrationโs plans to drop non-fraud-related crypto cases and adopt a more favorable regulatory stance toward digital assets. The platform noted:
โUS inflation reports show cooling inflation and more optimism of further Fed rate cuts, which would immediately favor crypto growth. Though the hawkish FOMC meeting last month contributed to a cryptocurrency top, traders are hoping that this slightly changes their decisions on slowing rate cuts in 2025.โ
Bitcoin traded around $100,675 at the time of writing, up 4.14% in 24 hours. The benchmark crypto asset was more than 7% higher over the past week.
Gains meant bulls came within 7.3% of the all-time high above $108k that BTC reached on Dec. 17, 2024.
