The collapse of bitcoin from record heights recorded on Monday is related to traders' expectations regarding President Donald Trump's actions in the field of cryptocurrencies. After signing key decrees on the first day of his presidency, the market was hoping for signals about his position on crypto policy. Previously, digital assets showed steady growth against the backdrop of Trump's inauguration. The optimism of market participants was caused by hopes for possible initiatives that could support the crypto industry. However, the president focused on other campaign promises, including issues related to TikTok, trade, and energy, without mentioning cryptocurrencies. Against the background of this uncertainty, bitcoin lost ground, falling from a historical high of over $109,000. The uncertainty of Trump's trade policy increased the risk in the market, which was reflected in a decrease in the value of the main cryptocurrency to $102,240. Additionally, the market was destabilized by Trump's release of the $TRUMP and $MELANIA memecoins, which led to increased volatility. Solana, Cardano and Polygon fell by 3.8-7%, while Dogecoin lost 6.1% among meme tokens.
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