US President Donald Trump’s failure to mention bitcoin or crypto in his inauguration speech sent shockwaves through the market, causing a sharp drop in prices over the last 24 hours. The bitcoin price surged earlier this week but crashed back as traders anticipated that Trump would sideline crypto from his first day actions.
The newly launched memecoins $trump and $melania, named after Trump and his wife Melania, plummeted after their initial rocket higher following release. According to analysts, the market had high expectations for regulatory changes and a potential “strategic national bitcoin reserve” but these developments are unlikely to be implemented soon.
Trump’s World Liberty Financial, a decentralized finance project backed by the President, has invested around $112 million in various cryptocurrencies. While this move suggests that Trump may follow through on his crypto plans, experts caution against investing in new memecoins and urge investors to wait for concrete actions rather than reacting to speculation.
As one analyst noted, “The market has priced in positive executive orders being announced on Trump’s first day back in the White House.” However, it is unclear when or if these developments will materialize.
Source: https://www.forbes.com/sites/digital-assets/2025/01/21/trump-and-melania-suddenly-crash-as-bitcoin-price-dives