Bitcoin became a casualty of heightened expectations fueled by numerous insider reports from U.S. media about the "immediate" easing of cryptocurrency regulations. The market had been building tension for months, which ultimately snapped in the opposite direction—against digital currencies. The mere fact that the new White House leader did not mention cryptocurrencies in his speech exerted strong pressure on BTC. Just hours before Trump's inaugural address, Bitcoin reached a new all-time high, surpassing the $109,200 mark. However, following the speech, its price plunged to $100,000, signaling that revolutionary changes in the industry would unfold gradually rather than overnight.

Despite a significant price retracement, BTC/USD remained above the critical $100,000 target. On Tuesday, it even demonstrated upward momentum, reflecting the optimism among traders.

It's important to note that there are currently no signs that Trump's team intends to reverse its commitments to implement significant changes in U.S. policy regarding digital assets. The absence of any mention of cryptocurrency in his inaugural speech or related executive orders is not unusual. This aligns with his overall focus on other pressing issues such as immigration, gender policies, and delays on restrictions concerning TikTok. Consequently, there have been no executive orders related to the crypto industry. This situation is not surprising, particularly given that Trump has previously backed away from his commitments on various issues, including this one.

He has repeatedly stated that on the very first day of his presidency, he would impose additional duties on Chinese goods. However, this did not occur. The issue regarding China was set aside, as the new president chose not to hasten preventive measures. It seems he has postponed them until his upcoming visit to Beijing, which is scheduled to take place within the next 100 days.

Not all promises made were fulfilled, and not all inside information was verified. For instance, sources from Bloomberg reported that among former President Trump's numerous executive orders, there would be one prioritizing the crypto industry in state policy. However, it appears that the 47th US President not only did not sign this order but also chose not to mention digital currencies during the ceremonial events.

Why did BTC/USD regain its position on Tuesday? At the time of writing, the value of Bitcoin was approaching the target of $105,000. Why did market participants shift from anger to mercy?

In my opinion, there is one simple reason for this: the declarative intentions of Trump's team, including Trump himself, remain unchanged; no one has canceled or refuted them. The only difference now is that, instead of the anticipated blitzkrieg, the cryptocurrency industry will have to deal with a gradual shift towards a more liberal regulatory framework.

Several fundamental factors have supported Bitcoin's growth. One significant development is the recent personnel changes within the US Securities and Exchange Commission (SEC). Republican Mark Wade has been appointed as the acting head of the SEC, replacing Gary Gensler, who was known for his strict regulatory approach and has resigned. This change is encouraging news for the crypto industry. Wade has consistently advocated for the establishment of clear regulations for the cryptocurrency market, which could foster its development.

It is important to note that Gensler's official term as head of the SEC, often referred to by the media as the "crypto inquisitor," is set to expire on June 5, 2026. However, he has chosen to leave his position voluntarily. As a result, Wade will serve as the acting chair of the Commission until that date. After Wade, Paul Atkins, who is known as a "crypto lawyer," will assume the role; he will remain at the SEC in a non-leadership capacity until June of next year. According to sources from Reuters, changes in the Commission's policy may occur as early as next week.

A member of the Utah House of Representatives, Jordan Tiuscher, has introduced a bill to establish a strategic Bitcoin reserve. According to the proposed legislation, this reserve will be funded by allocating a portion of the capital from the state fund. With this initiative, Utah becomes the eleventh state to consider such a measure.

It is premature to discuss the potential for a downward trend in the BTC/USD pair. The market is still awaiting changes in SEC policy and advancements in the creation of a strategic reserve of bitcoins in the United States, a plan that Trump has mentioned on several occasions. As a result, it is advisable to use any downward price pullbacks as opportunities to open long positions, with an initial target of $106,000, which remains our primary goal.