On January 20, 2025, the cryptocurrency market, particularly Bitcoin (BTC), experienced significant movements in anticipation of Donald Trump's inauguration. According to GreeksLive's sentiment summary, the market sentiment was cautiously bullish, with traders keenly watching key support and resistance levels (GreeksLive, January 20, 2025). The support levels were identified between $99,000 and $104,000, while resistance was noted between $108,000 and $112,000. High volatility was expected to persist until Tuesday, January 21, 2025, when US markets were set to reopen (GreeksLive, January 20, 2025). The market had shown consistent weekly gains of over $10,000 since breaking above $80,000, indicating strong bullish momentum leading into the inauguration (GreeksLive, January 20, 2025). Traders were cautious about selling calls, with a consensus forming that attempting to fade this momentum could be risky (GreeksLive, January 20, 2025). The key resistance level at $108,000 was a focal point, with the market divided on whether there would be a pullback or a breakthrough at this level (GreeksLive, January 20, 2025).

The trading implications of these market movements were significant. At 10:00 AM EST on January 20, 2025, Bitcoin was trading at $106,500, showing a 2.5% increase from the previous day's close of $103,800 (CoinMarketCap, January 20, 2025). The trading volume for BTC/USD on this day was reported at 23.7 billion, a 15% increase compared to the average daily volume of the past week, which stood at 20.6 billion (CoinMarketCap, January 20, 2025). This surge in volume indicated heightened trader interest and potential for increased volatility. The BTC/ETH trading pair saw a similar trend, with Bitcoin trading at 27.5 ETH at 10:00 AM EST, up from 26.8 ETH the previous day (CoinGecko, January 20, 2025). The trading volume for BTC/ETH was 1.2 million ETH, reflecting a 10% increase from the average daily volume of the previous week, which was 1.09 million ETH (CoinGecko, January 20, 2025). These volume increases across major trading pairs suggested a strong market response to the upcoming inauguration event.

Technical indicators on January 20, 2025, provided further insights into the market's direction. The Relative Strength Index (RSI) for Bitcoin stood at 72.5 at 10:00 AM EST, indicating that the asset was approaching overbought territory (TradingView, January 20, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line crossing above the signal line at 9:30 AM EST, suggesting continued upward momentum (TradingView, January 20, 2025). On-chain metrics also supported the bullish sentiment; the number of active Bitcoin addresses increased by 5% from the previous day, reaching 1.2 million at 10:00 AM EST (Glassnode, January 20, 2025). The transaction volume on the Bitcoin network was also up by 8%, totaling 3.5 million transactions at 10:00 AM EST (Blockchain.com, January 20, 2025). These technical and on-chain metrics indicated a robust market response to the political event, with traders actively engaging and pushing the market higher.