$BTC Bitcoin’s price experienced a pullback as investors speculated about potential pro-crypto policies under President Donald Trump’s new administration. Despite his earlier advocacy for digital assets, Trump’s initial flurry of executive orders excluded any mention of cryptocurrency, leaving the industry in suspense.
In his first hours in office, Trump signed several significant directives addressing various national concerns. These included pardoning individuals charged in the January 6 Capitol incident, reversing key regulatory measures from the previous administration, and easing restrictions on the oil and natural gas sectors to combat inflation. He also delayed Congress’ proposed TikTok ban and announced the U.S. withdrawal from the Paris Climate Agreement. However, the absence of any crypto-related announcements caught the attention of digital asset enthusiasts who were hoping for immediate action.
The lack of a clear policy direction impacted the broader cryptocurrency market. Bitcoin fell 1% to $101,300 early Tuesday in Singapore, although it later recovered slightly to $102,196, marking a 0.30% dip over 24 hours. Other leading cryptocurrencies, such as Ethereum and Solana, also saw minor declines. Ether dropped by 1% to $3,243, while Trump’s official token, launched alongside Melania Trump’s, plummeted 39.22% to $32.75 after briefly exceeding $70.
Trump’s campaign promises, including his vision to establish a national Bitcoin reserve and transform the U.S. into a global crypto hub, had fueled optimism within the community. However, the introduction of meme tokens tied to the Trump brand has sparked mixed reactions. While critics argue these tokens undermine the seriousness of digital assets, some analysts believe they symbolize a commitment to fostering innovation in the industry.
The crypto market remains optimistic, viewing Trump’s presidency as an opportunity to shape a regulatory framework that supports blockchain development. Industry leaders are hopeful that upcoming policies will deliver on his campaign rhetoric and position the U.S. as a leader in digital asset adoption.
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