Synopsis
Bitcoin, along with other major cryptocurrencies, experienced a drop on Tuesday following Donald Trump’s inauguration. Bitcoin was trading at $101,739, down 0.8%, after hitting an intraday low of $100,103. Other notable declines included Solana, BNB, Dogecoin, and newly launched tokens OFFICIAL TRUMP and Melania Coin, which plummeted significantly.
Bitcoin (BTC), the world’s largest cryptocurrency, and other crypto tokens fell on Tuesday, a day after Donald Trump’s inauguration.
As of 11:42 am IST, Bitcoin was trading at $101,739, down 0.8%, after hitting an intraday low of $100,103. Ethereum declined 0.7% to $3,248. The global crypto market cap saw a slight decline of 0.12%, falling to $3.51 trillion.
Other major altcoins also experienced declines on Tuesday. Solana dropped 2.5%, BNB 1%, XRP 0.4%, Dogecoin 6%, Hedera 4.36%, and Shiba Inu 3.3%. Meanwhile, newly launched tokens OFFICIAL TRUMP and Melania Coin plunged 44% and 62%, respectively.
Crypto Tracker
TOP COIN SETSCrypto Blue Chip – 56.35% BuySmart Contract Tracker3.58% BuyWeb3 Tracker-6.07% BuyAI Tracker-6.70% BuyNFT & Metaverse Tracker-10.16% BuyTOP COINS (₹) Tether86 (-0.06%)BuyBitcoin8,797,593 (-0.99%)BuyXRP264 (-1.49%)BuyEthereum279,846 (-2.23%)BuySolana20,338 (-4.41%)BuyOn Monday, Bitcoin surged to a record high above $109,000 as Trump, who has indicated plans to deregulate the cryptocurrency sector, prepared for his inauguration as US President.
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View Details »“Bitcoin is consolidating near $102,000 after reaching a new all-time high, as Trump’s inauguration speech had no mention of Bitcoin,” said Edul Patel, CEO of Mudrex. “Currently, BTC’s resistance is at $104,600, with support at $100,500,” he added.
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Vikram Subburaj, CEO of Giottus, stated, “Market sentiment remains in ‘Extreme Greed’ territory, with the Crypto Fear and Greed Index holding steady at 76. Bitcoin and crypto will likely be volatile this week before settling on a trend.”
Also Read: Trump’s new meme coin soars on his first day in office, lifts other tokens
The volume of all stablecoins is now $291.99 billion, which is 92.82% of the total crypto market 24-hour volume, as per data available on .
In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, fell to $2.017 trillion. Bitcoin’s dominance is currently 57.87%, according to . BTC volume in the last 24 hours surged 35.8% to $124.26 billion.
Also Read: Crypto Clash: Melania takes on Trump in a high-stakes battle for digital riches
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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