Many anticipated that Trump would address crypto in some form—whether by referencing Bitcoin, discussing the creation of the long anticipated strategic Bitcoin
Bitcoin Price Drops 5% From All-Time High as Trump Omits Any Mention of Crypto in Inauguration Speech
Bitcoin (BTC) price dropped 5% from its all-time high on Jan. 20 after President Donald Trump avoided any mention of crypto during his inauguration speech.
Trump was sworn in as the 47th president of the United States on Wednesday at the Capitol in Washington, D.C. Many anticipated that Trump would address crypto in some form during his speech.
Some speculated that Trump might reference Bitcoin, discuss the creation of the long anticipated strategic Bitcoin reserve, or declare the US as the leading global crypto nation. Others anticipated that he might touch on the TRUMP and MELANIA meme coins that launched over the weekend.
However, Trump did not mention crypto at all during his speech. Adding to the market’s disappointment, a report published by Punchbowl News at noon Eastern Time, just as the inauguration began, revealed that Trump’s congressional priorities include no mention of crypto.
Bitcoin surged to a new all-time high of $109,000 during early morning hours on Wednesday as traders positioned themselves ahead of Trump’s swearing-in.
However, as the Punchbowl report surfaced, the crypto asset tumbled, reaching just above $100,000. At press time, Bitcoin had partially recovered and was trading at $103,000, still 5% below its peak earlier in the day.
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