Since President Trump was inaugurated on January 20, Bitcoin (BTC) went from $ 109,000 to $ 80,000, making it a classic “Selll The News” event. The correction continued from the summit of digital assets on Friday.
Although price action can dictate a short -term drop, Bitcoin Bulls could consider it as a long -term positive catalyst, because the US administration has increased from a hostile position under the previous administration to a more favorable administration. However, the lack of immediate purchase pressure suggests short -term weakness.
A similar price action occurred during the highly anticipated launch of the Bitcoin Bitcoin FNB Bitcoin Bitcoin in January 2024. From October 2023 to January 2024, Bitcoin went from $ 25,000 to $ 49,000 – on a 40%rally. However, the launch marked a local summit, because the price then decreased by 20% in the following weeks before finally reaching new heights of all time over $ 73,000 in March.
This time, after President Trump won the US elections in November, Bitcoin joined 60%, reaching a summit of $ 109,000 in January before undergoing a correction of almost 30%.
The common model in both cases is that the upturks have triggered a local summit in the Bitcoin price, followed by a significant correction. The following variable is that Bitcoin begins to move higher once this correction is finished, with a lot depending on the macro landscape.
