Today, as President Donald Trump was inaugurated for his second term, the cryptocurrency market experienced notable volatility. Bitcoin ($BTC ) reached an all-time high of over $109,000 early in the day but retracted to approximately $103,132 by the evening.
This surge was partly fueled by the launch of Trump's meme coin, $ Trump, which saw significant investor interest. However, during his inauguration speech, President Trump did not address cryptocurrency policies, leading to a 5% decline in Bitcoin's value from its peak.
Ethereum ($ETH ) also experienced fluctuations, reaching an intraday high of $3,452.70 before settling at $3,312.82. Other cryptocurrencies like BNB, XRP, and Cardano (ADA) mirrored this trend, with initial gains followed by corrections.
The market's initial optimism was driven by expectations of a crypto-friendly administration, especially with the introduction of $TRUMP and $melema tokens. However, the absence of specific crypto-related announcements during the inauguration led to a reassessment among investors.
In summary, while the inauguration day began with bullish momentum in the crypto market, the lack of concrete policy statements introduced caution, resulting in a mixed performance across major digital assets.
