Bitcoin holds above $106K as traders bite nails over the absence of Trump crypto executive order
Bitcoin price bounces back above $106,000 as the US Dollar Index cools and markets react positively to Trump’s pro-America agenda.
Crypto and equities markets roared toward new highs on Jan. 21, with Bitcoin making up the bulk of the ground lost during its pullback on Jan. 20.
In the US, stock markets were closed on Jan. 20 in observation of Martin Luther King Jr. day, but traders’ optimism over what is believed to be a markets and business-climate-friendly Trump presidency was reflected right at the opening bell.
The US Dollar Index continued its decline, pulling back 1.27% from a Jan. 15, 2-year high of 110 to currently trade slightly above 108. As 2024 came to a close and right at the start of 2025, market participants’ anxiety over the incoming Trump administration and a handful of other geopolitical tensions were reflected by the sharp rise in US Treasury yields and the DXY. After the smooth transition from former President Biden to a self-declared economics-focused Trump cabinet, the DXY has cooled off, along side Treasury yields.
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Author: Big Smokey
