Bitcoin (BTC) Price Analysis: Rally May Not Have Peaked Yet as Trump Appoints Pro-Crypto Advocates

Bitcoin has been inching down in recent hours after Donald Trump was silent on crypto in his inaugural speech after being sworn in as the 47th President

Bitcoin price dropped quickly following Donald Trump's inauguration as the 47th President of the United States on Monday.

Naturally, investors took it to heart that the President-elect did not mention Bitcoin or the crypto industry at large even once during his inaugural address.

But does that mean the Bitcoin rally has peaked already? Does it suggest the new government is quietly trying to roll back on its claims of what it would do for the crypto enthusiasts in 2025?

Fortunately, the answer to both concerns seems to be “no”.

Donald Trump has not lost conviction in Bitcoin

While Donald Trump may not have mentioned Bitcoin in his inaugural speech, his recent moves clearly indicate intention of making good on promises of pro-crypto policies this year.

For example, he’s appointed crypto advocate Paul Atkins as the head of the new Securities & Exchange Commission – and more recently, he named David Sacks as the “AI and Crypto Czar” of the White House.

Sacks is a veteran in venture capitalism and has previously served as the chief operating officer of digital payments giant PayPal. Sacks has links to Solana.

So, the fact that Trump did not mention crypto in his inaugural address may only suggest the strategic Bitcoin reserve could take another few months to become a reality – and not that he’s no longer committed to making America a crypto superpower in the first place.

In fact, close to 40% of the bets are still in favor of Trump choosing to set up a strategic Bitcoin reserve in the first 100 days in office, as per data from Polymarket.

Bitcoin could benefit as Trump pursues a weaker USD

It’s reasonable for investors to remain bullish on Bitcoin even though Trump’s inauguration address had no mention of crypto because his macro policy could serve as a tailwind for the crypto asset as well.

Donald Trump has already divulged that he’d favor a weaker US dollar as the 47th President of the United States.

Why? Because a weaker dollar typically makes US companies’ products more competitive in the international market. In other words, it tends to boost exports, which ultimately serve as a meaningful tailwind for the economy at large.

For crypto enthusiasts, however, what may be more exciting to know is that a weaker USD has historically been a tailwind for Bitcoin – the fiat currency and the digital asset have been inversely related for years.

That’s because a weaker dollar often makes investors pursue alternative stores of value, including Bitcoin.

Bitcoin technicals suggest bulls are still in control

Crypto investors may remain confident in a potential resurgence in Bitcoin price from current levels despite a disappointing inaugural speech from Donald Trump also because the technicals suggest continued further upside ahead.

BTC may have been inched down following the President’s inaugural address but it remains above the $102,000 level that’s currently serving as a support, indicating buyers are still in control.

Finally, the Relative Strength Index (RSI) sits at a little above 50 at writing even though Bitcoin is currently up some 50% versus its price on the election day (November 6th) – signalling the bullish momentum is far from over just yet.

All in all, while Trump’s inaugural speech may have been a setback for Bitcoin investors on Monday, the broader commitment of the new government to crypto likely remains intact. So, the long-term bullish view for BTC may still play out in the weeks ahead.