Bitcoin Floats Around $105K As TRUMP Crashes

The recent Bitcoin (BTC) rally stalled on Friday at $107,000, with the price dropping around $3,000 afterward. Most altcoins were also in the red this week, with SOL, ADA, DOGE, and LINK among the biggest losers. BTC Drops To $104K The crypto world was focused on the Trump inauguration in the beginning of the week, with Bitcoin experiencing wild price swings. It fell sharply on Monday morning but surged past $109,000 shortly after. However, after Trump ignored crypto in his speech entirely, Bitcoin dropped $5,000 in minutes. It bounced back to stay above $100,000 but fell to just over $104,000 after hitting $107,000. The market cap of Bitcoin is now $2.06 trillion, with a dominance of 55.5%. Meanwhile, Ethereum (ETH) has dropped below $3,300, while XRP is trying to recover. SOL, SUI, and LINK saw losses up to 6%. The biggest loser however was TRUMP, down over 20% to under $28. The overall crypto market cap has lost $80 billion, now sitting at $3.720 trillion. Other Markets Stocks surged on the first trading day of 2025, marking the biggest gain since 2018. The U.S. economy remained relatively stable, supporting the interest rate hold. Still, risk assets are becoming a safe haven in a volatile debt market. In China, a cold snap threatens power supplies as demand surges, as cocoa prices are set to rise following an Africa-Indonesia freight deal, and Ghana posted a record trade surplus of $5 billion thanks to a gold surge. On the geopolitical front, Ukraine is ready to transit gas through Azerbaijan . Lastly, Argentinian President Milei, continues to impress after unexpected victories but it remains to be seen how he will handle greater challenges as the year progresses.