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Trump’s Inaugural Speech Omits Crypto, BTC Pulls Back from $109K
January 21, 2025 – President Donald Trump’s inaugural address has sparked a significant market reaction in the cryptocurrency space. Despite his campaign promises to support the digital asset sector, Trump’s speech failed to mention Bitcoin or any other form of cryptocurrency.
As a result, the price of Bitcoin plummeted by 6% in response, dropping from an earlier high of $109,020 to $102,250. This drastic change in value has left many traders reeling and questioning the administration’s plans for digital assets.
MELANIA, a meme coin closely tied to Trump’s presidency, also saw its price plummet, losing over 65% in value as the market reacted negatively to the omission of cryptocurrency from the inaugural address.
The broader crypto market followed suit, with all top ten coins shedding single-digit percentages in value. The loss in value is a stark contrast to the gains seen just hours prior, where prices were surging in anticipation of the new administration’s stance on digital assets.
While some analysts have suggested that the omission could be a strategic move by the administration to focus on broader economic policies before addressing crypto initiatives, others are left wondering if this marks a significant shift in the administration’s approach to digital asset policy.
Trump’s nominated officials, including his designated crypto czar, maintain strong pro-crypto backgrounds, which suggests that digital asset policy may still play an important role in the administration’s future economic agenda. However, the current market reaction suggests that investors are hesitant to make any significant moves until more clarity is provided on the administration’s stance.
As the dust settles from this unexpected turn of events, traders will be closely monitoring the administration’s actions and statements for any indication of a change in direction regarding digital assets.
Source: cryptotale.org
