Donald Trump has taken office as the President of the United States. During the election campaign, he made numerous promises regarding support for the crypto market. These include the creation of a state reserve in bitcoins, simplifying crypto companies' access to banking services, clear regulation of the industry, and much more that, according to him, should make America the 'crypto capital' of the world.
Industry participants generously sponsored Trump's campaign, assuming that he would start addressing the industry's pressing issues right from the start. Since the election in early November, the crypto market has shown rapid growth, and ahead of the inauguration, the price of bitcoin hit a new high above $109,000.$BTC

However, in his inaugural speech, Trump did not mention cryptocurrencies, and on his first day in office, he did not sign any documents related to this topic. The crypto market fell in disappointment, losing about 7% in capitalization.
At the same time, Trump's inauguration was marked by what some market participants considered quite scandalous, the release of 'official' tokens $TRUMP and $MELANIA. These cryptocurrencies skyrocketed in price by thousands of percent within hours, but two days after their release, they noticeably decreased in value.

In both cases, wallet researchers found evidence of early purchases by likely insiders in the first minutes after the token launch, and some market analysts called this 'unjustified money gathering' and 'exploitation.'$SOL

'2-3 weeks'
Nevertheless, industry experts are closely watching the further actions of the new U.S. president. Trump's inauguration itself is not as important as the first 2-3 weeks after it.
Market participants expect a lot from this period, particularly a reduction in pressure from the new leadership of the U.S. Securities and Exchange Commission (#SEC ) on crypto projects, as well as active promotion of legislative initiatives by the Trump administration.

Gary Gensler has stepped down as head of the SEC, and Trump has appointed Mark Wade as acting chairman until Paul Atkins goes through the Senate approval process. As journalists note, the acting chairman has all the powers, but people in this position sometimes prefer to shift responsibility to the new chairman and postpone important decisions.

Last time, the U.S. Senate approved an SEC chair, namely Gensler, only in April 2021. It is important to note that market experts then called this appointment a positive sign for the crypto industry, believing that it was thanks to Gensler that Bitcoin exchange-traded funds would finally be approved in the U.S. (#ETF ), which indeed happened during his chairmanship.

It was Gensler, while still head of the U.S. Commodity Futures Trading Commission (#CFTC ), who was the first among officials to call bitcoin a 'commodity.' Despite this, during his tenure at the SEC, Gensler claimed that many other cryptocurrencies should be classified as securities. Under this approach, the Commission has filed numerous lawsuits against crypto companies over the past few years. Now industry participants expect these lawsuits to be dropped and the regulator's attitude towards cryptocurrencies to become more friendly.
However, if no moves are made within a reasonable time after Donald Trump takes office in the Oval Office to improve the climate for crypto business, it could become a 'sell the facts' event and lead to a market correction of 5-10%.
It will be very important to monitor Trump's fulfillment of his election promises related to the crypto market; if it drags on, investors may start to take profits.

Irrational Positive
It is worth noting that the positivity itself today is quite irrational - there are no formal reasons to believe in market growth. The fact that there will not be such strict control over cryptocurrencies as under Joe Biden's administration cannot fully guarantee investment attractiveness. Moreover, in recent months, the market growth has been driven by investors' interest in memecoins, not by any fundamental projects, so the future of the market is very much in question.
Over the past 30 days, the total trading volume of memecoins has increased by 69% to $46 billion, according to CoinMarketCap. Meanwhile, the market capitalization of cryptocurrencies issued in the Solana ecosystem has increased by 159% during this time.

Continuation of the Bull Cycle
The current situation and trends favor the continued growth of cryptocurrencies, and even in the event of local corrections, market capitalization targets at levels of $4-5 trillion seem achievable for this year. Analysts believe that if the market remains disappointed with the first weeks of Trump's presidency, a possible correction should be taken advantage of to increase buying volume in anticipation of the continuation of the bull cycle.

In mid-December, the former head of the BitMEX exchange stated that the crypto market would face a mass sell-off on days close to Donald Trump's inauguration, as the new U.S. president would not be able to quickly fulfill his promises, and realizing this, crypto investors would start to sell their assets out of disappointment.

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