Bitcoin reached a new record high of $109,333 during Asian trading hours on Monday before Donald Trump's inauguration. Trump mentioned Bitcoin's record-breaking performance in a speech, alongside gains in the broader U.S. stock market. The largest cryptocurrency's surge was fueled by Trump's vocal support for cryptocurrencies and the launch of Trump and Melania memecoins, which attracted retail users. Bitcoin dominance has started to trend higher, approaching 60%, and the spread between Bitcoin and Ethereum continues to widen. Year-end Bitcoin targets range from $185,000 to $250,000.