#Trump100Days Crypto enthusiasts hoped that Donald Trump, who called himself the "crypto president," would drive Bitcoin to the moon and provide greater legitimacy to the industry during his second term in the White House. However, the first 100 days of the president's term left some feeling disappointed.

"Enthusiasm and optimism peaked on the day of Trump's inauguration, but since then, everything has gone downhill," wrote Alice Liu, head of research at CoinMarketCap, in comments for MarketWatch.

A combination of factors, such as uncertainty regarding Trump's trade policy and some investor disappointment over the launch of a meme coin in honor of the president a few days before the inauguration, contributed to the pessimistic shift in sentiment, Liu noted.