The cryptocurrency market saw sharp volatility following President Trump’s inauguration, with no direct mention of cryptocurrencies in his speech.
This led to Bitcoin’s price falling from its all-time high of $110,000 to $102,000, before settling around $103,000.
The weekend coincided with the launch of two meme coins linked to the presidential family, adding further pressure to the market.
Despite the price volatility, Bitcoin managed to recover briefly to record all-time highs before falling again.
Bitcoin’s market cap reached $2.03 trillion, with a 55.4% dominance, amid expectations of continued volatility.
As usual, the impact of Bitcoin’s decline was felt across altcoins.
Ethereum, Binance, and LINK saw relatively minor losses ranging between 3-4%.
XRP, AVAX, and SOL saw larger losses of up to 10%.
In the meme coin sector, coins like FARTCOIN and TRUMP recorded losses of 28% and 27% respectively.
The total cryptocurrency market cap fell by more than $200 billion, reaching $3.70 trillion.
