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Bitcoin fell sharply on Tuesday, retreating from record highs, as traders awaited concrete policy signals from U.S. President Donald Trump after his first day in office. Despite anticipation of pro-crypto executive orders, Trump\u2019s initial actions focused on other priorities, dampening risk sentiment across crypto markets.<\/p>\n\n\n\n
The world\u2019s largest cryptocurrency tumbled 5.2% to $101,820.7 by 01:32 ET (06:32 GMT), after briefly surpassing $109,000 on Monday. The rally leading up to Trump\u2019s inauguration was driven by speculation of favorable crypto regulations, but the absence of clear directives has left traders in uncertainty.<\/p>\n\n\n\n
Market sentiment was further weighed down by Trump\u2019s announcements on trade tariffs targeting Canada and Mexico, a declared national emergency over the energy sector, and an extension of TikTok\u2019s ban implementation. These moves shifted focus away from cryptocurrencies, leading to a broad pullback.<\/p>\n\n\n\n
Adding to the turbulence, Trump launched two memecoins\u2014$TRUMP and $MELANIA\u2014over the weekend, which initially garnered significant trader interest but introduced heightened volatility to the market.<\/p>\n\n\n\n
$TRUMP, which peaked with a market capitalization of $14 billion over the weekend, plunged to $7 billion as wild price swings rattled traders. Meanwhile, $MELANIA, named after First Lady Melania Trump, was met with a lukewarm response, with ethical concerns arising over Trump\u2019s use of his political status to influence speculative markets.<\/p>\n\n\n\n
The memecoins, while popular in trading circles, have done little to reassure broader crypto markets, with skepticism over their long-term value.<\/p>\n\n\n\n
The broader cryptocurrency market mirrored Bitcoin\u2019s decline. Ethereum, the second-largest token by market cap, dropped 5.2% to $3,238.23. XRP slid 3.8% to $3.0528, while altcoins such as Solana, Cardano, and Polygon saw losses ranging from 3.8% to 7%. Among meme tokens, Dogecoin fell 6.1%.<\/p>\n\n\n\n
The selloff reflects growing uncertainty over the policy landscape for digital assets under Trump\u2019s administration. While traders had hoped for crypto-friendly measures, the lack of immediate action has dampened optimism.<\/p>\n\n\n\n
Investors are now closely monitoring the administration\u2019s next moves, particularly regarding crypto regulations and trade policies, as these could significantly influence market sentiment.<\/p>\n\n\n\n
The crypto market\u2019s volatility underscores its sensitivity to regulatory developments, especially with Bitcoin\u2019s recent rally to historic highs. Until clearer signals emerge from Washington, traders are likely to remain cautious, with a focus on managing downside risks.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin fell sharply on Tuesday, retreating from record highs, as traders awaited concrete policy signals from U.S. President Donald Trump after his first day in office. Despite anticipation of pro-crypto executive orders, Trump\u2019s initial actions focused on other priorities, dampening risk sentiment across crypto markets. Bitcoin Retreats from Record Highs The world\u2019s largest cryptocurrency tumbled …<\/p>\n","protected":false},"author":9,"featured_media":101614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[6904],"class_list":["post-110807","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-bitcoin"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=110807"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110807\/revisions"}],"predecessor-version":[{"id":110809,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110807\/revisions\/110809"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/101614"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=110807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=110807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=110807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}