Bitcoin has recently achieved a significant milestone, surpassing $109,000 ahead of President Donald Trump’s inauguration.
This surge is attributed to investor optimism regarding potential pro-cryptocurrency policies from the new administration. However, the market experienced a slight pullback, with Bitcoin currently trading at $102,378.
Bitcoin (BTC)
$102,378.00
-$2,028.00 (-1.94%)
In related developments, President Trump and First Lady Melania Trump launched meme coins, $TRUMP and $MELANIA, on the Solana blockchain. These tokens saw initial enthusiasm but faced volatility, with the $TRUMP token’s value declining after the President did not address cryptocurrency topics on his first day in office.
Ryan Selkis, founder of Messari, has urged President Trump to dismiss the team behind the MELANIA meme coin, expressing concerns about its impact on the credibility of the cryptocurrency sector.
Additionally, Selkis has labeled Ripple as a threat to President Trump’s crypto agenda, highlighting potential risks associated with certain digital assets.
Despite these fluctuations, the overall outlook for Bitcoin remains positive, with expectations of further consolidation and potential upward movement, contingent upon key developments such as the establishment of a U.S. strategic bitcoin reserve and the approval of exchange-traded funds for smaller cryptocurrencies.
