BTC Surpasses $105K: Is the 'Trump Pump' or Institutional Adoption Driving a $3.63 Trillion Cryptocurrency Market?

On Friday, bitcoin rose to an intraday peak of $105,246 per coin, as the collective valuation of the crypto economy expanded by 3.12%, reaching a substantial $3.63 trillion.
Crypto Sector Value Grows Amid Growing Institutional Confidence and Trump Speculation
Bitcoin (BTC) appreciated 5.7% against the U.S. dollar, marking its ascent to $105,246. This development unfolds mere days ahead of President-elect Donald Trump’s Jan. 20, 2025, inauguration. Market chatter is rife with conjecture regarding potential seismic shifts in crypto policy under Trump’s administration, including discussions of a U.S. strategic bitcoin reserve.



BTC/USD on Jan. 17, 2025. The price tapped an intraday high of $105,246 per coin.
Ethereum (ETH) recorded a modest 2.8% gain, while dogecoin (DOGE) distinguished itself as the leading performer within the top ten cryptocurrencies, achieving an 8.34% rise. The day’s most dramatic upward movement was observed in spx6900 (SPX), which soared 41.03% against the dollar. Chex token (CHEX) followed with a 24.63% climb, while fartcoin (FARTCOIN) advanced 22.2%.
Additional gainers included FLR, which appreciated by 21.76%; POPCAT, rising 20.07%; and OKB, registering a 17.79% increase. However, not all assets shared in the day’s gains. ai rig complex (ARC) fell sharply by 17.85%, freysa ai (FAI) retreated by 14.2%, and XDC declined by 12.47%. Meanwhile, AI16Z dropped by 11.98%, and AIXBT slid by 7.15%.
The surge in market activity triggered significant liquidations in crypto derivatives markets, with $270.83 million in positions wiped out. Of this total, $159.90 million were short positions, including $75.27 million in bitcoin shorts. Over the last 24 hours, 87,321 traders were liquidated, with the single largest liquidation occurring on Binance, where a bitcoin position lost more than $6 million.
According to market data from Cryptoquant, the Coinbase Premium Index and Gap briefly entered the premium zone on Jan. 14, though they have since returned to a discount range. Currently, South Korean exchanges exhibit a 0.95% BTC premium, per Cryptoquant’s metrics.
This latest wave of crypto enthusiasm appears to be tied to what some are calling the “Trump Pump” and the intensifying presence of institutional investors in the sector. In a statement to News, Kourosh Khanloo, director of corporate strategy at Tradu.com, noted that institutional adoption is accelerating at a rapid pace.
“Institutional adoption of crypto is accelerating rapidly, driving a notable rise in prices,” Khanloo remarked. “This surge is fuelled not only by the influx of funds flowing into crypto markets via institutional channels but also by the involvement of major financial institutions, which lends significant credibility to the industry and strengthens investor confidence. Even traditionally risk-averse pensions funds are getting in on the action, enticed by the Bitcoin boom and potential lucrative returns on offer,” the Tradu.com executive added.