The "Trump catalyst" refers to the impact of former US President Donald Trump's actions and statements on the cryptocurrency market. Trump's influence on the crypto market has been notable, with his election win in November 2024 sparking a major rally that pushed Bitcoin to $100,000 for the first time ever on December 5. However, his remarks on Iran's supreme leader, Ayatollah Ali Khamenei, caused a market downturn, with Bitcoin dipping from $BTC 104,310 to $103,553 before recovering to $BTC $105,450.

*Key Events:*

- *Election Win*: Triggered a major rally, pushing Bitcoin to $BTC 100,000

- *Tariffs on China, Canada, and Mexico*: Caused Bitcoin to fall below $100,000

- *Iran Remarks*: Led to a market downturn, with Bitcoin and other cryptocurrencies tumbling

*Market Sentiment:*

- The Crypto Fear & Greed Index fell 16 points to "Neutral" (52 out of 100) after Trump's Iran remarks

- Bitcoin, Ether, and XRP experienced losses, but later recovered some of their value

Some analysts believe Trump's policies and cabinet appointments, such as crypto-friendly Treasury Secretary Scott Bessent, could lead to a significant crypto boom, potentially pushing Bitcoin to $120,000 or even $200,000 by late 2025 ¹.