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Bitcoin (BTC) Tumbles by Over $5K in Minutes as Trump’s Inauguration Begins

Posted On January 20, 2025

Donald Trump’s inauguration as the 47th US president has officially started, and massive volatility hit the crypto market as expected.

Bitcoin’s price tumbled from over $107,000 to under $102,000 as the market prepares for his actions toward the industry after his numerous promises during the campaign.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

It was already a wild day as the primary cryptocurrency dumped to under $100,000 this morning following the Trump family’s meme coin saga. However, instead of continuing further south, the asset bounced off and headed toward new peaks.

Just a few hours later, it knocked down the December all-time high and spiked above $109,400 to mark a new record.

More volatility ensued in the hours leading to the start of the inauguration. Yet, BTC had stabilized for a bit at around $107,000 but dropped hard as the ceremony began to just under $102,000.

It has recovered some ground since then, but the total liquidations are still quite high at over $1.1 billion on a daily scale. The single-largest wrecked order took place on Binance and was worth over $15 million.

The post Bitcoin (BTC) Tumbles by Over $5K in Minutes as Trump’s Inauguration Begins appeared first on CryptoPotato.

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