CandleFocus Bitcoin retreats as traders await Trump’s pro-crypto policies
2025-01-21
Author: Content Editor
The price of Bitcoin has decreased as traders await an executive order from Donald Trump regarding crypto following his inauguration. Despite signing multiple executive orders upon taking office, Trump has yet to issue any pro-crypto directives. The anticipation stems from the launch of Trump and Melania's crypto tokens before the inauguration, leading investors to interpret this as a sign of support for the crypto industry. However, the absence of any directives thus far has caused concern among cryptocurrency leaders. The price of Bitcoin dropped by 1% to $101,300, but has since slightly recovered to $102,196. Ether and Solana also experienced slight declines. Trump had previously expressed support for establishing a national Bitcoin reserve and making the US the crypto capital of the world. The release of Trump and Melania's meme tokens has drawn both criticism and support, with some questioning their seriousness toward digital assets. However, others view it as a sign of commitment to the crypto industry and a potential shift in crypto regulations.
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