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The crypto community was left in suspense as President Donald Trump’s inaugural speech omitted any mention of cryptocurrencies, leaving the industry’s future under his administration unclear. This absence has seen crypto options signaling losses for the Ether-Bitcoin Ratio, while bitcoin price saw a slight price drop.
Trump Speech Skips Crypto
During his inauguration, Trump spoke about bringing the country together and solving economic and border issues. However, there was no mention of cryptocurrencies or blockchain technology.
This disappointed many in the crypto world who were hoping for clearer policies or even support for digital currencies. Earlier rumors that Trump might announce a strategic bitcoin reserve or pro-crypto policies turned out to be untrue.
Even the GOP’s public priorities do not include cryptocurrencies, leaving the digital space in a state of confusion.
Before Trump’s speech, the crypto market responded positively to the expectation that he would mention crypto, which caused Bitcoin’s price to reach an all-time high of $109,000. However, things took a quick turn when Trump didn’t bring up crypto or digital assets further. This led to a sharp decline in crypto prices.
Bitcoin Stands Strong, While ETH Struggles
Perhaps data from Amberdata shed more light on the situation. It showed that Bitcoin call options, which reflect bullish sentiment, were trading at much higher prices than Ethereum call options. This indicates that investors were placing more trust in Bitcoin’s future.
Risk reversals, a measure of the difference between bullish and bearish options, also revealed that Bitcoin held a 4-5 point premium over Ethereum, highlighting stronger confidence in Bitcoin compared to Ethereum.
Additionally, the Ether-Bitcoin ratio, which compares the two assets’ values, dropped to a three-year low of 0.03 this week. This further confirms that Bitcoin is currently dominating the market.
What’s Next for Crypto?
Trump’s lack of attention to cryptocurrencies has left many wondering about his administration’s plans. With no clear direction or policies, the crypto community is left waiting. For now, Bitcoin remains the top choice for investors, while Ethereum struggles to keep up.
