Daily Crypto Signals: Bitcoin Hits $109K While Memecoins Create Family Drama on Trump Inauguration

The cryptocurrency market experienced significant volatility on Donald Trump’s inauguration day, with Bitcoin reaching a new all-time high of $109,114 before retreating, while drama unfolded in the memecoin space as competing Trump family tokens vied for investor attention. The newly-sworn-in president’s silence on crypto during his inaugural address led to a notable market correction.

Crypto Market Developments

On January 20, 2025, the market for cryptocurrencies displayed mixed indications since Trump’s inauguration dominated market attitude. After Trump’s inauguration speech omitted mentioning cryptocurrencies or his campaign promise of a strategic Bitcoin reserve, Bitcoin suffered a severe downturn even if it set new highs. This absence affected the larger market as numerous altcoins tracked Bitcoin’s declining path.

Trump’s Inauguration Impact on Crypto

Though he advocated cryptocurrencies, President Trump’s “America First Priorities” conspicuously omitted any reference to them. Still, his government has already taken notable actions in the crypto realm, appointing Caroline Pham as acting CFTC chair and Mark Uyeda as acting SEC chair. Pointing to the appointment of David Sacks as the White House’s “A.I. & Crypto Czar” and the choice of crypto advocate Paul Atkins to head the SEC, industry watchers remain hopeful about crypto’s part in Trump’s second term.

Bitcoin Crosses $109,000 and Dips

BTC/USD

Early in the day, Bitcoin BTC/USD showed amazing resilience and shot to a fresh all-time high of $109,036 at 6:55 am UTC. After Trump’s inauguration address, though, the fervor faded and the price dropped to test the $100,000 mark. The performance of the cryptocurrencies shows how sensitive the market is to political events and legislative aspirations.

Shiba Inu Price Prediction: SHIB to Touch $0.003?

SHIB/USD

Right now trading at $0.00002, Shiba Inu SHIB/USD shows sideways movement in early 2025. Changelly’s study indicates that the token might reach $0.003 by the first quarter of 2040, so offering a possible 15,000% return on investment. Under the Trump presidency, this long-term forecast is predicated on hopes of a more robust US market and higher investor confidence.

World Liberty Financial Buys Over $100 Million in Crypto

On inauguration day, WLF showed notable market activity buying about $100 million in crypto tokens in a few hours. Along with minor interests in tokens like Ethena, Chainlink, Aave, and Uniswap, the protocol’s wallet gathered $46.8 million in Ethereum and $46.7 million in wrapped Bitcoin. The overall cryptocurrency values of the site presently stand at $326.2 million.

Top Altcoins to Watch

ETH/USD

Leading altcoins showed mixed performance during the inauguration day trading:

• Ethereum ETH/USD: Trading near $3,242, facing resistance at the 50-day SMA
• XRP XRP/USD: Showing strength above $2.91 support level
• Solana SOL/USD: Experiencing high volatility around $238
• Chainlink LINK/USD: Maintaining positive momentum above $24
• Cardano ADA/USD: Consolidating within a symmetrical triangle pattern near $1

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.