Crypto prices across the board are under pressure due to regulatory uncertainty and the influence of market sentiment. Several posts 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
experienced a decrease of 2.75% in the last 24 hours and 2.74% in a week. The main cause of this decrease is said to be the uncertainty of crypto deregulation, which has caused uncertainty in the market. This is because the unclear regulation can significantly affect the price of Bitcoin.
2️⃣Solana $SOL
showing a different movement with an increase of 7.13% in the last 24 hours and 24.78% in a week. There is a potential for high volatility due to the discussion around the Solana ETF whose status is still unclear. However, this data shows that Solana still has short-term positive momentum, which may be related to market expectations for innovation or development in the Solana ecosystem.
3️⃣Ethereum $ETH
experienced a 2.47% drop 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 is down 2.53% in 24 hours and 5.28% in a week. While Dogecoin often moves based on hype and social sentiment, this drop may also be due to a general decline in interest in the memecoin at this time.
If Trump fails to follow through on his plans to loosen regulations, the crypto market could see a major correction. This shows 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 a matter of skepticism about how far Trump will go in pushing for significant regulatory reform.