Trump has submitted several cryptographic promises, including changing the SEC leadership and appointing a crypto emperor, but his proposed strategic Bitcoin reserve could not implement federal policies. It was bad. As sophisticated investors shifted from altcoin to bitcoin and maintained control of BTC by more than 60%, trading volumes fell to pre-election election levels. Trump’s trade tariff policy introduced market uncertainty, but his associated Trump memokine fell sharply from the launch price of USD 75.35 to USD 16.24.
Crypto is surged thanks to the US custody president, but worries about the sustainability of this are beginning to creep up.
Trump was very vocal about his support of the crypto community, but unfortunately he may be slightly over-promoted. Yes, politicians who have more promises than they offer…it’s shocking.
Some of the things he promised, in all fairness, he actually did. Leadership at the U.S. Securities and Exchange Commission (SEC) has changed, and he examined his promise to “dismiss Gensler on the first day,” but he left his own consent.
He also set up a Crypto Czar, but it is still unknown what he can achieve exactly in that role.
Traders move from Altcoins to Bitcoin, analysts say
But what’s a bit lacking is the strategic Bitcoin Reserve (SBR). The Sovereign Wealth Fund’s executive order failed to mention Bitcoin and crypto, but so far it is the US states that carry the SBR torches, not the federal government.
Ten times research analysts believe that whatever macro trends and “Trump’s next move” are still important.
Related: Are there bull markets? Crypto analysts say retail sentiment is the lowest clash in years
In a recent memo, they said many traders have moved from altcoin to Bitcoin, with crypto trading volumes “slowing sharply to the level they saw last before the Trump election.”
Bitcoin remains relatively strong as sophisticated traders move from altcoins to BTC and maintain an advantage of over 60%. Recent Altcoin (and Meme Coin) rally quickly faded, confirming a wider market rotation into Bitcoin.
10x research Analysts believe that “institutional players will increasingly treat Bitcoin as a macro asset.” He said retailers show far less interest than professional investors, comparing the situation to “living in two completely independent worlds.”
As James Toledano, Chief Operating Officer of Unity Wallet, said in an emailed statement, Trump’s trade tariff spat certainly didn’t help guarantee investors.
Trump’s tariffs could create uncertainty in global trade and lead to risk-off actions for investors. (…) As Trump signalles more tariffs in key industries (especially metals), it could increase market sensitivity to his economic policies and increase volatility.
James Tredano, Chief Operating Officer of Unity Wallet The Trump Memecoin disappears slowly
Meanwhile, Trump’s Memocoin effort has not only elicited a lot of criticism, but its value continues to decline. The token is currently trading at USD 16.24 ($25.88), far from the high of USD 75.35 (au $120.11) at launch.
And, according to a report by The New York Times, the Trump family won a big memocoin bet, collecting nearly US$100 million in trading fees.
Related: Vanek says Sol can hit $520 as soon as SEC opens the door to SolanaETF
YouTube Sleuth Coffeezilla is one of the toughest and early critics of the Trump Coin launch, calling it a “troubling job.”
