Donald Trump has officially stepped into office as the 47th U.S. president, but his silence on crypto during the highly anticipated inauguration speech has sent shockwaves across the digital asset market.
📉 Bitcoin’s Rollercoaster
As the ceremony kicked off, Bitcoin (BTC) plunged from $107,000 to $102,000 within minutes, wiping out billions. The brief glimmer of hope during Trump’s speech saw BTC bounce to $105,000, but once it became clear crypto wasn’t on the agenda, the market nosedived again. BTC now hovers at $100,500, struggling to find stability.
🔥 Altcoins in Freefall
Altcoins suffered even heavier losses, with Trump’s own meme coin tanking by over 20% in the past hour, dropping to $40 after peaking at $70 earlier today. The coin’s competition with Melania Trump’s newly launched alternative has only added fuel to the fire.
Other notable casualties:
SPX
FARTCOIN
HBAR
WIF
LINK
AAVE
WLD
TIA
BONK
All have plummeted over 6% in the last hour.
💔 Mass Liquidations
Nearly 400,000 traders have been liquidated in the past 24 hours, with total wrecked positions nearing $200M according to CoinGlass.
🚨 Crypto Market Fallout
The market’s reaction highlights just how deeply intertwined politics and digital assets have become. Trump’s decision to sideline crypto talk during such a monumental moment has left investors reeling, with many questioning the future direction of the market.
What’s next for crypto? Only time will tell if the industry can recover from this devastating blow.
