Bitcoin, Ethereum, Dogecoin Retrace From Pre-Inauguration Highs As Trump Skips Crypto Mention: Analyst Highlights BTC Consolidation In $101K-$106K Range
Leading cryptocurrencies failed to rally as expected on Monday after Donald Trump was sworn in as the 47th president of the U.S.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +1.57% | $101,346.96 |
| Ethereum (CRYPTO: ETH) |
+1.75% | $3,252.20 |
| Dogecoin (CRYPTO: DOGE) | -0.76% | $0.3515 |
What Happened: Bitcoin fell steadily, reaching an intraday low of $100,626 as the top cryptocurrency failed to capitalize on its surge to fresh highs of $109,000 ahead of the inauguration.
Ethereum followed a similar trajectory, retracing from a high of $3,425 to as low as $3,228.
The excitement was likely muted after Trump’s inauguration address made no mention of cryptocurrency or Bitcoin, contrary to expectations.
Moreover, lawsuits against the new Elon Musk-headed Department of Government Efficiency affected sentiment around Dogecoin.
About $756 million was liquidated from the market in the last 24 hours, including roughly $500 million on upside bets.
Bitcoin’s Open Interest rose 1.36% in the last 24 hours, coinciding with a similar rise in the spot …
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