Matt breaks down the inauguration of U.S. President Donald Trump and what it meant for the crypto market. With Trump expected to continue delivering on his pro-crypto promises over the coming days, Matt also shares his short-term outlook for Bitcoin and the crypto market.
Key Takeaways
- Bitcoin (BTC) hit an all-time high above $109,000 prior to Inauguration Day. On the day, Trump failed to mention crypto in any of his speeches. Of the executive orders he signed, none were related to crypto, likely contributing to a slight sell-off.
- We remain optimistic that Trump will sign multiple crypto executive orders this week. Should this not eventuate, we’d still expect these to come in Trump’s first 100 days in office—as opposed to not at all.
- Trump launched a memecoin days before being inaugurated, as did First Lady Melania Trump. Both were launched on Solana and attracted several billion in volume.
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