Bitcoin (BTC) has remained resilient around the $100,000 level, despite the shifting regulatory landscape ahead of President-elect Donald Trump’s inauguration. As the cryptocurrency market looks toward potential policy changes under the new administration, market participants are grappling with a mix of optimism and skepticism.
Reports have emerged suggesting that Trump might issue an executive order to designate cryptocurrency as a national priority, with discussions of a strategic bitcoin reserve and possible cryptocurrency advisory board. This has sparked speculation that a more favorable regulatory environment could emerge, boosting industry growth and adoption. Crypto advocates are eager to see if Trump’s promises of pro-crypto policies will come to fruition once he assumes office.
However, despite these potential developments, Bitcoin’s performance on U.S.-based exchanges like Coinbase remains subdued compared to global platforms like Binance. Data from CryptoQuant reveals that BTC’s price on Coinbase has been trading at a slight discount, indicating that U.S. demand for the cryptocurrency may be more tempered than anticipated.
While the market saw a surge in Bitcoin’s price during the November-December rally, driven largely by U.S. investors, the Coinbase premium has since faded. Bitcoin’s price has remained in the $90,000-$108,000 range since mid-December, with U.S. traders seemingly waiting for more clarity on how the new administration will handle digital asset regulations.
As the inauguration approaches, the “Inaugural Crypto Ball” reflects the optimism of the crypto community that Trump will deliver on his promises, but Bitcoin’s price action suggests caution as investors wait for concrete policy changes before fully committing.
