Crypto prices across the board are under pressure due to regulatory uncertainty and the influence of market sentiment. Several posts have highlighted how investors are cautiously awaiting regulatory developments, especially from the US government under the new Donald Trump administration, which could have a major impact on the crypto market.
1️⃣Bitcoin $BTC
has fallen by 2.75% in the last 24 hours and 2.74% in a week. The main cause of this decline is said to be the uncertainty of crypto deregulation, which has created uncertainty in the market. This is because unclear regulations can significantly affect Bitcoin prices.
2️⃣Solana $SOL
has shown a different movement with an increase of 7.13% in the last 24 hours and 24.78% in a week. There is potential for high volatility due to the discussion around the Solana ETF whose status is still unclear. However, this data suggests that Solana still has some short-term positive momentum, which may be related to market expectations for innovation or development in the Solana ecosystem.
3️⃣Ethereum $ETH
fell 2.47% in 24 hours and 5.97% in a week. This drop could be due to the general market sentiment towards other major cryptos besides Bitcoin.
4️⃣Dogecoin #doge fell 2.53% in 24 hours and 5.28% in a week. While Dogecoin often moves based on hype and social sentiment, this drop could also be due to the general decline in interest in memecoins at this time.
If Trump fails to follow through on his plans to loosen regulation, the crypto market could see a major correction. This suggests that there may be a gap between campaign rhetoric and actual action.
There is an argument that Trump’s support for crypto is more of a campaign tool to gain votes from the crypto community than a real commitment to regulatory change. This is skepticism about how far Trump will push for significant regulatory reform.