Bitcoin‘s (BTC) price teeters on the brink of dropping below the $100,000 mark, as the new presidency under Trump has left many crypto enthusiasts feeling disillusioned. Currently trading around $100,600, BTC might soon fall into the five-digit territory.
What Factors are Driving Cryptocurrency Prices Down?
With Trump officially taking office, his inaugural address has raised eyebrows due to the omission of cryptocurrencies from his agenda. The lack of focus on digital currencies has left many in the crypto community concerned about their future.
Could Trump’s Policies Impact Crypto’s Stability?
It’s troubling that Trump chose not to acknowledge the cryptocurrency sector, especially given his history with a meme coin. Without any forthcoming executive orders addressing digital assets, negative implications for the market’s short- and medium-term outlook could arise.
Though Gensler has stepped down and new cabinet members seem supportive of cryptocurrencies, their confirmation in the Senate may take some time. As ADA falls below $1 and SOL struggles at $239, ETH remains at $3,250. The shift in liquidity towards Trump Coins over the weekend has further diminished Bitcoin’s allure.
- Bitcoin price is nearing $100,000, raising concerns for investors.
- Trump’s silence on cryptocurrencies during his speech is alarming.
- Potential policy changes may not favor the crypto industry.
- Market liquidity is shifting towards alternative coins.
The current climate suggests that without immediate government support and clear policies, the cryptocurrency market may continue to experience significant turbulence. Observers are keeping a close watch on how forthcoming executive actions might influence the sector’s trajectory.
