$BTC By Tom Westbrook

SINGAPORE (Reuters) - Bitcoin and other cryptocurrencies and even the newly minted token bearing Donald Trump's name recoiled on Tuesday, after the U.S. president's first set of policies following inauguration made no reference to this asset class.

Bitcoin, the world's largest cryptocurrency, hit a record high $109,071 on Monday when Trump was sworn in as the 47th U.S. President, but later pared those gains and was last trading at $101,705.40.

The Trump-branded meme coin, launched on Friday night, was last trading at $34.4, according to cryptocurrency price tracker CoinGecko. That is half its peak price of $74.59 on Monday, when valuation exceeded $14 billion. The coin had initially been priced around $6.5 at its launch.

Trump's inaugural speech on Monday was accompanied by a host of executive orders and plans relating to trade tariffs, immigration, energy deregulation and even a reprieve for popular