Analysis: Trump's Inauguration Ceremony May No Longer Be a Bitcoin 'Sell-the-News' Event

BlockBeats News, January 15th, although Bitcoin surged to a new all-time high quickly after Trump's victory in the U.S. presidential election in November, since mid-December, the macroeconomic headwinds have put pressure on the market, causing K33 analyst to question the expectation that the Trump inauguration would be a "sell-the-news" event.

K33 had previously been inclined to sell Bitcoin at the inauguration on January 20th, citing that the high expectations of Trump's pro-crypto campaign promises would clash with Washington's typically slow political machinery. However, as the inauguration approaches, the "sell-the-news" strategy has become less appealing.

The market is trying to balance the inflationary impact of Trump's trade rhetoric with the potential for tax cuts and favorable crypto policies, these policies are expected to boost this year's risk assets, K33 analysts Vetle Lunde and David Zimmerman wrote in a client report on Tuesday.