The post Damp squib for Bitcoin (BTC) on Trump inauguration day appeared on BitcoinEthereumNews.com.

The inauguration of Donald Trump as the next president of the United States passed off without the merest mention of Bitcoin or crypto. After a spectacular rally into the event, the Bitcoin price fell more than $7,000 from the new all-time high of $109,300, to end the day at $102,150.  A Bitcoinless Inauguration day Trump’s special day was full of pomp, pride, and quite a bit of humour provided by a fun-loving president. All the family and invited guests were there to pay homage to the new president, and the event went off without any notable negative incidents. That said, not only did President Trump not mention Bitcoin at all in his inauguration speech, but there wasn’t the merest hint of it. Of course, the president may have been playing safe for his first day, but those in the crypto lobby might have been disappointed. In fact, in the first executive orders that were signed by Trump on Monday, there was a rescinding of the Biden-era policies on race, climate, migration and gender; a pause on the TikTok decision; a withdrawal from the Paris Climate Agreement, and the World Health Organisation; various pardons, and other first-day business, but nothing at all on Bitcoin or crypto. With all that President Trump has previously said about a more favourable US policy on Bitcoin and crypto, and that this is likely to have an effect on the financial system, it certainly might have been expected that at least a mention would have been made of it. Perhaps as a result of Bitcoin playing no role in the inauguration, or maybe due to the “sell the news” effect on the market, Bitcoin fell steadily through the latter part of the day. Large volatility over Sunday and Monday Source: TradingView The 4-hour time frame for…

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Filed under: News - @ January 23, 2025 12:18 am