The inauguration of Donald Trump as the 47th president of the United States has brought significant excitement to the cryptocurrency market, particularly for Bitcoin. The anticipation of a more tech-friendly administration caused Bitcoin to reach all-time highs. However, there was a rapid market correction, with Bitcoin experiencing a sharp decline from its peak. Analysis from Santiment suggests that social media mentions of higher price targets often signal a market peak, leading to a sell-off. The increase in mentions of higher prices indicates potential greed and fear of missing out (FOMO) dominating the market. This pattern suggests that whales (large investors) may be selling off their holdings, leading to a short-term correction. Santiment advises traders to remain cautious and consider a contrarian approach. The absence of any mention of cryptocurrencies in Trump's inaugural speech caused Bitcoin to drop further. Other major cryptocurrencies, including Cardano, Solana, and Dogecoin, also saw significant losses.



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