In the days around President Trump's inauguration, Bitcoin experienced a rollercoaster of highs and lows, peaking at $109,460. This turbulence was fueled by political uncertainty and the emergence of $TRUMP and $MELANIA memecoins, with US traders taking center stage over the weekend. As chaos ensued, the Coinbase premium plummeted, hinting at either waning demand or a surge in selling. But what hidden force outside the US played a pivotal role in averting a further collapse? The answer will surprise you.
US market drove Bitcoin’s volatility ahead of Trump’s inauguration US market drove Bitcoin’s volatility ahead of Trump’s inauguration
Bitcoin’s new ATH and subsequent retraction were fueled by US-driven volatility ahead of Trump's inauguration, while global exchanges buffered the storm.
3 min read
Updated: Jan. 21, 2025 at 4:07 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Official Trump
$15.7320
The Trump memecoin, officially launched by Donald Trump on the Solana blockchain, is a digital asset named TRUMP.
Melania Meme
$1.42731
Melania memes are digital collectibles designed to express support for and engagement with the values represented by the symbol MELANIA and its related artwork.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Binance
Binance is a global leader in the blockchain ecosystem and cryptocurrency infrastructure, offering a comprehensive suite of services, including the world’s largest digital asset exchange by trading volume.
Donald John Trump was born on June 14, 1946, in Queens, New York City.