One week after Donald Trump's inauguration, Bitcoin is stabilising around $102,000 — down 7% from the all-time high of $109,000 reached on the day of the ceremony. The post-inauguration "sell the news" pattern is consistent with historical precedents.
The Trump administration's first crypto decisions
Within the first days, the administration signed the cancellation of SAB 121 — an accounting directive that made it costly for banks to hold crypto assets. A digital assets working group was established with a 180-day mandate to propose a regulatory framework. Paul Atkins, considered industry-friendly, was nominated to replace Gary Gensler at the SEC.
The market digests anticipations
Farside Investors records a slowdown in ETF flows — $620 million in net inflows for the week, versus $1.9 billion during inauguration week. This slowdown is normal: part of the institutional demand had been anticipated before the event.
Legislative reality will take time
Campaign promises — stablecoin legislation, exchange framework, Bitcoin strategic reserve — require legislative processes that extend over months. The market is gradually pricing this in.
What this data does not tell us
A post-major-event consolidation is healthy. It allows the market to absorb profit-taking and consolidate a base for a potential resumption. The duration and amplitude of this consolidation remain uncertain.