US market drove Bitcoin’s volatility ahead of Trump’s inauguration

Bitcoin’s new ATH and subsequent retraction were fueled by US-driven volatility ahead of Trump's inauguration, while global exchanges buffered the storm.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

In the days around President Trump's inauguration, Bitcoin experienced a rollercoaster of highs and lows, peaking at $109,460. This turbulence was fueled by political uncertainty and the emergence of $TRUMP and $MELANIA memecoins, with US traders taking center stage over the weekend. As chaos ensued, the Coinbase premium plummeted, hinting at either waning demand or a surge in selling. But what hidden force outside the US played a pivotal role in averting a further collapse? The answer will surprise you.