Since President Trump's inauguration, the price of bitcoin has dropped from $109,000 to $80,000, leading to a "sell the news" event. This correction has continued after a digital asset summit. Although the change in the U.S. administration's stance towards bitcoin is seen as a long-term positive catalyst, the lack of immediate buying pressure suggests short-term weakness. Similar price patterns were observed during the launch of U.S. spot bitcoin ETFs in 2024 and after President Trump's election victory in 2021, where bullish news triggered a local top followed by a significant correction. The future movement of bitcoin will depend on the macro landscape.



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