Well, folks, you can bet your cowboy hat the newsboys were at it again!
“Bitcoin Slumps as Trump Ignores Crypto in Inaugural Address!” What a bunch of hooey!
Investors were in an uproar after Donald Trump failed to mention Bitcoin or the crypto industry at large during his inaugural address. But I reckon that’s just a teensy-weensy omission.
For instance, he appointed crypto advocate Paul Atkins as the head of the Securities & Exchange Commission, just like he promised. That’s a pretty gosh-darn clear signal that he’s still a fan of the digital stuff!
And don’t even get me started on David Sacks, the “AI and Crypto Czar” of the White House! He’s as crypto-crazy as a run-over-in-the-creek-plain-crazy is crazy!
By the way, nearly 40% of the bets are still in favor of Trump setting up a strategic Bitcoin reserve in the first 100 days in office, according to Polymarket. Not bad for a fella who didn’t mention crypto in his inaugural address, if you ask me!
Now, I know what you’re thinkin’, “But Mark, what about Trump’s softer stance on the USD?” Ah, shucks, that’s a whole ‘nother can of worms!
A weaker USD may just be the thing that makes Bitcoin come out swingin’ its figurative punching bag!
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Now, about those technicals…
BTC might have taken a little tumble, but it’s still above that pesky $102,000 mark. And with the RSI sittin’ pretty at a mite above 50, them bulls are still in charge, partner!
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2025-01-21 12:26