News

Bitcoin Teetering $106K as Traders Anticipate Trump’s Yet Signed Crypto Executive Order

single-image

The crypto and equities markets soared to new heights on January 21, with Bitcoin regaining most of the ground lost during its recent pullback. The rally follows a positive shift in sentiment fueled by economic optimism surrounding the new Trump administration and improving market conditions.

Stay in the know on crypto by frequently visiting Crypto News Today

Stock Markets Rebound on Trump-Era Optimism

In the U.S., stock markets reopened on January 21 after a pause for Martin Luther King Jr. Day. Traders welcomed the day with enthusiasm, driven by the belief that President Trump’s administration would foster a business-friendly climate. This optimism was reflected in early gains across major indices.

The U.S. Dollar Index (DXY) also cooled, retreating 1.27% from its two-year high of 110 on January 15 to hover above 108. Concerns over geopolitical tensions and the transition of power initially drove Treasury yields and the dollar higher, but the smooth transfer from President Biden to Trump’s economics-focused cabinet has eased investor anxiety, bringing stability to the markets.

CryptoCaster Quick Check:

Leading analysts, fund managers, and CEOs have echoed a positive outlook for the new administration’s economic policies. This confidence translated into gains for the S&P 500, Dow Jones Industrial Average, and NASDAQ’s QQQ, which rose by 1.21%, 0.82%, and 2.79%, respectively. Additionally, Trump’s decision to soften his earlier stance on tariffs has contributed to the rally, further buoying investor sentiment.

Bitcoin Rallies Despite Initial Crypto Community Disappointment

Bitcoin mirrored the upward momentum in equities, gaining 3.8% to reach an intraday high of $107,240. While still below its January 20 all-time high of $109,588, the rebound was welcomed by investors. However, some members of the crypto community voiced disappointment over the lack of mention of Bitcoin or cryptocurrencies during Trump’s inauguration speech. Hopes for an executive order establishing a national Bitcoin reserve or broader crypto adoption policies went unfulfilled.

Advertisement

Despite this initial setback, January 21 brought positive news for the crypto sector. The U.S. Securities and Exchange Commission (SEC) announced the formation of a new crypto task force to create a comprehensive framework for digital assets. Led by Commissioner Hester Peirce, a long-time advocate for cryptocurrencies, and acting SEC Chairman Mark Uyeda, the initiative has been well-received by investors eager for regulatory clarity.

Global Perspectives Boost Bitcoin’s Momentum

Bitcoin’s rally was further fueled by comments from Bank of America CEO Brian Moynihan during an interview at the World Economic Forum in Davos, Switzerland. Moynihan stated that banks worldwide are prepared to integrate crypto payments once regulations are sufficiently clear.

“We have hundreds of patents on blockchain already,” Moynihan remarked. “We know how to enter the field.” His comments align with predictions from Bitwise Chief Investment Officer Matt Hougan, who has emphasized the significance of corporations incorporating Bitcoin into their portfolios, describing it as a development with profound long-term implications.

CrypthosEthos
ADVERTISEMENT

This shift in institutional sentiment highlights growing confidence in Bitcoin as a legitimate financial asset. It underscores the importance of regulatory progress in unlocking the potential for broader adoption and integration across financial systems.

A Promising Start to 2025

The January 21 market surge reflects a promising start to 2025, marked by renewed confidence in equities and cryptocurrencies. While challenges remain, including regulatory uncertainty and geopolitical tensions, the overall sentiment suggests a positive trajectory for financial markets.

For crypto investors, the SEC’s initiative and growing institutional interest signal a shift toward mainstream acceptance. As regulatory frameworks take shape and global corporations explore blockchain integration, the year ahead holds significant potential for the crypto industry.CRYPTOCASTER® - DECENTRALIZED FREEDOM!


We hope you found this article insightful. Before you go, please consider supporting CryptoCaster’s independent journalism.

In the world of media owned by billionaires like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase), influence over narratives surrounding cryptocurrency and Web3 often reflects their interests. CryptoCaster is different. With no billionaire backers or shareholder obligations, we are committed solely to public interest journalism, covering crypto advancements and institutional changes without profit-driven motives.

Unlike much of mainstream media, which can fall into neutrality traps that obscure the real impacts on retail investors, we’re guided by transparency and integrity. We are unafraid to take a stand in the ongoing struggle against fiat banking dominance and in support of the monetary innovation driven by crypto and Web3. Reporting on issues like FTX, Binance, and Ripple, we bring a bold, unfiltered outsider’s view on global financial disruption—free from the constraints of traditional media narratives.

CryptoCaster remains paywall-free, accessible to everyone, thanks to the support of readers like you. Your contributions keep us independent and help ensure that critical information on the crypto landscape reaches all. If you value our work, please consider supporting us with a one-time contribution starting at just $1 in Bitcoin or Ether, or even monthly if you’re able. Scroll down to find our wallet addresses and help keep CryptoCaster independent and thriving.

Thank you for your support,

Kristin Steinbeck
Editor, CryptoCaster


Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.


Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D


CRYPTOCASTER HEATMAP


You may also like