Following President Donald Trump's inauguration on January 20, 2025, the cryptocurrency market has experienced notable fluctuations. Bitcoin ($BTC) reached a new all-time high of $109,036 on inauguration day, surpassing its previous record of over $108,000 set in December 2024. However, the market has since seen a correction. As of January 21, 2025, Bitcoin is trading at $106,822, reflecting a 3.24% increase from the previous close.
Other cryptocurrencies have also been impacted. Solana ($SOL) is currently priced at $253.26, up 3.13% from the previous close.
In contrast, meme tokens associated with the Trump family have faced declines. The Official Trump token ($TRUMP) has dropped 31.36% to $0.96786, and the Melania Meme coin ($MELANIA) has decreased by 18.93% to $4.41.
Despite initial optimism, President Trump's inaugural address did not include specific policies regarding cryptocurrencies. This omission has led to market corrections, particularly affecting tokens like $TRUMP and $MELANIA. Analysts suggest that the market's reaction may be a result of profit-taking and cautious optimism about potential future regulatory changes under the new administration.
As the Trump administration progresses, investors should stay informed about potential policy developments that could influence the cryptocurrency landscape. The current market behavior underscores the importance of monitoring political events and their impact on digital assets.
