The cryptocurrency market saw a wave of volatility following President Donald Trump’s inauguration speech, which made no mention of bitcoin or crypto policy. This sparked a sell-off across major tokens, with total liquidations reaching $1.28 billion, according to Coinglass.
A Quick Take delivers key facts fast—concise, clear, and easy to read. Perfect for busy readers.
Total liquidations: $1.28 billion, impacting over 386,000 traders.
- Long Positions: $816 million liquidated as optimism faded.
- Short Positions: $307 million liquidated during the volatility.
- Trading volume:
- BTC: $2.56M liquidated.
- ETH: $1.98M liquidated.
- TRUMP: $1.08M liquidated.
Bitcoin fell 1% to $102,219, showing relative stability compared to altcoins.
Trump’s $TRUMP memecoin fell 22% to $36.31, with its earlier rally disrupted by competing launches like Melania Trump’s $MELANIA, which surged 12,000% within 24 hours. (Read more: Quick Take: Melania Trump’s Meme Coin Derails $TRUMP Token Rally)
Despite the omission of crypto in Trump’s speech, rumors persist about a potential U.S. Bitcoin Strategic Reserve (SBR), The Block reported. (Read more: Quick Take: Solana, XRP Surge Amid Rumors of U.S. Crypto Reserve)
- Polymarket estimates 40% chance that a US National Bitcoin reserve will be created during Trump’s first 100 days in office.
What’s next: Expect a volatile market, just as it was during the previous Trump administration.
This article is published on BitPinas: Quick Take: $1.28B Liquidated as Trump Inaugurated 47th US President
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