The crypto market is on a roller coaster again. Recently, Bitcoin reigned supreme, but it plunged sharply overnight from the record highs reached on Monday, January 20. No worries—this flagship digital asset still has a lot to prove.

Experts attributed the sudden drop in Bitcoin to a sour sentiment among traders and investors about President Donald Trump’s cryptocurrency policy. They were anticipating new signals from the American leader concerning the digital industry after he signed a pile of executive orders on his first day in office.

Earlier this week, cryptocurrency markets rallied in anticipation of the inauguration of the new US president. Investors hoped that the new leader would issue pro-crypto executive orders immediately upon taking office. However, this optimism proved premature. Donald Trump’s executive orders did not concern cryptocurrency policy, instead focusing on other campaign pledges, particularly international trade and the energy sector.

In this context, Bitcoin’s price plummeted from its record high of $109,000. By Monday, January 20, the world’s largest cryptocurrency was trading at $102,240. Some analysts doubt whether the flagship asset can maintain its value above $100,000.

The cryptocurrency markets had been awaiting clear-cut directives from Donald Trump, but the US president made no mention of the crypto industry or Bitcoin in his inaugural address. As a result, the prices of most cryptocurrencies fell alongside Bitcoin, as the market was stunned by the lack of industry-specific initiatives from the new administration.

The president, who welcomed digital assets during his campaign, has not signed a single order related to the industry. This has discouraged investors, though they are trying to hold on and remain optimistic. However, hopes for changes in Trump’s cryptocurrency policy are fading day by day. At the start of this week, sentiment in the digital asset market was grim. Even the launch of two memecoins—$TRUMP and $MELANIA—failed to lift spirits.

Initially, demand for $TRUMP was high, but the memecoin experienced aggressive volatility, crashing sharply from its recent highs. According to CoinMarketCap, the current market capitalization of the token is $7 billion—half of its recent record value.

The launch of another altcoin, $MELANIA, named after the First Lady, aroused less enthusiasm. Some traders and analysts criticized the move as unethical, accusing Trump of leveraging his political status to influence global markets. However, both tokens significantly boosted the personal wealth of the US president.

Experts are closely monitoring the situation. Despite ups and downs, they warn crypto investors about significant changes in the near future.