Bitcoin (BTC) experienced losses during Asian trading hours as trading in memecoins TRUMP and MELANIA surged. BTC briefly dropped below $100,000, while other cryptocurrencies like ETH, XRP, SOL, and BNB saw bigger losses. TRUMP, a memecoin linked to President-elect Donald Trump, declined by 30% as Melania Trump introduced her own memecoin, MELANIA. The MELANIA token saw a significant rally, reaching a record price of $13. Observers believe the trading frenzy in these memecoins may have an impact on BTC's price. Some experts, like Arca's CIO Jeff Dorman, see the TRUMP debut as a positive development for the crypto market. There are also expectations that Trump will announce the establishment of a strategic bitcoin reserve through an executive order.



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