Trump's inaugural speech did not mention Cryptocurrency! Disappointed selling pressure emerged, and the entire network contract Get Liquidated $1.28 billion

Donald Trump, the newly elected president of the United States, was officially inaugurated in Washington early this morning (21st). He delivered an inspiring speech, praising the innovative spirit of the United States. However, he did not mention any cryptocurrency-related issues throughout the speech, which greatly disappointed supporters in the crypto world. As a result, BTC fell to $102,000, and the total amount of crypto assets liquidated on the entire network reached $1.28 billion at one point.

"Our country's ambitions are stronger than any other country, no country is like our country," Trump said, "Americans are explorers, builders, innovators, entrepreneurs and pioneers, this pioneering spirit is deeply imprinted in our hearts."

According to previous reports from Reuters and Bloomberg, Trump may sign multiple executive orders shortly after taking office, including the establishment of a Cryptocurrency Policy Committee, ensuring that Cryptocurrency companies can access banking services, and making Cryptocurrency a national policy priority.

However, the issue of cryptocurrency did not appear in the 'America First Policy' document issued earlier by the White House Press Secretary's office. According to Punchbowl News, the document lists the priorities of the Trump administration, but does not include content related to cryptocurrency.

Disappointed selling pressure emerged

On the eve of Trump's inauguration ceremony, the cryptocurrency market is filled with a festive atmosphere. BTC surged to over $109,000 yesterday, reaching a new all-time high.

However, Trump's inauguration speech did not mention Cryptocurrency, triggering disappointment in the market and causing BTC to fall from $106,000 all the way down, hitting nearly $100,000 this morning, dragging down major competing coins across the board.

According to CoinGlass data, the clearing amount of the cryptocurrency futures contract market has soared to 1.28 billion USD, with the liquidation amount of long positions reaching as high as 816 million USD, while the liquidation of short positions is 307 million USD.

Expert warning: Market volatility may continue

FXTM's Senior Market Analyst, Lukman Otunuga, stated that BTC is highly sensitive to US economic data and Fed rate expectations, and market volatility may further increase in the coming days.

QCP Capital observed that traders' cautious sentiment is beginning to heat up, with analysis indicating:

Although the funding rates of derivative platforms such as Deribit are still relatively high, reflecting the market's potential optimism, after the recent strong uptrend, the market seems to be entering a consolidation phase.

"Trump's inaugural speech did not mention cryptocurrency! Disappointed selling pressure emerged, and the entire network contract Get Liquidated 1.28 billion US dollars" This article was first published in "Blocktimes".