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Reading: Trump’s Presidency Triggers Mixed Signals in the Cryptocurrency Market
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COINTURK NEWS > Cryptocurrency News > Trump’s Presidency Triggers Mixed Signals in the Cryptocurrency Market
Cryptocurrency News

Trump’s Presidency Triggers Mixed Signals in the Cryptocurrency Market

In Brief

  • Trump's presidency leads to mixed signals in the cryptocurrency market.

  • Major coins like Bitcoin show resilience, while meme coins face declines.

  • Market sentiment remains uncertain, but long-term expectations appear bullish.

Fatih Uçar
Fatih Uçar 1 year ago
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Following Donald Trump’s inauguration as president, the cryptocurrency market exhibits mixed price signals. Bitcoin (BTC) $76,042 remains above the $102K mark, while prominent meme coins like Dogecoin $0.099985 (DOGE), Shiba Inu (SHIB), and Official Trump (TRUMP) experience a decline in value.

Contents
Overall Market SituationBitcoin and Other Major CoinsPerformance of Meme Coins

Overall Market Situation

The global cryptocurrency market reached approximately $3.52 trillion, marking an increase of 1% in the past 24 hours. However, daily trading volume decreased by 7.5% to $318.11 billion. Ethereum (ETH) $2,369 and Solana $89 (SOL) remained relatively stable during the daily sessions, whereas XRP stayed in the green zone.

Bitcoin and Other Major Coins

At the time of reporting, Bitcoin saw a 1% increase, trading at $102,725. Meanwhile, ETH faced a 0.3% drop to $3,257, and XRP experienced a slight rise to $3.11. Solana, however, declined by 1%, settling at $238.

Performance of Meme Coins

Dogecoin traded at $0.3475, reflecting a 4% decrease, while the TRUMP token plummeted by 21% to $35.19. Shiba Inu also lost 2.5% of its value, now at $0.00002004.

Ali Martinez commented, “The first pro-crypto U.S. President has taken office, and the market is experiencing panic selling.” As investor sentiment remains uncertain, long-term expectations are considered bullish. Analyses from CoinGape suggest that BTC could reach new all-time highs at $120K and $130K.

Comments from “Ash Crypto” noted that Solana’s popularity has surged since Trump’s inauguration, although some users reported issues withdrawing SOL from Coinbase.

Cryptocurrency analysts and traders continue to closely monitor the market’s next price movements.

You can follow our news on Telegram, Facebook & Coinmarketcap & X
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 21 January, 2025 - 8:05 am 21 January, 2025 - 8:05 am
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