Bitcoin Price Slips as Crypto Excluded from Trump’s Key Agenda

Bitcoin (BTC) price experienced a decline of more than 2% on Monday after the Trump administration revealed its primary objectives for the new term, which omitted any mention of cryptocurrency. The absence of crypto-focused priorities, including the establishment of a Bitcoin reserve, was noted in the administration’s newly released agenda.

Bitcoin & Crypto Suffer as Trump Takes Office

The document, titled “President Trump’s America First Priorities,” outlined three main categories of focus but did not reference crypto regulations or related initiatives. Additionally, during his inaugural speech at the Capitol Rotunda, President Trump refrained from addressing Bitcoin or cryptocurrencies.

Market reactions were swift, with Bitcoin retreating from its recent record high of $109,000, dropping over 2% to $103,735 as of press time. Major altcoins also followed Bitcoin’s downward trend, reflecting waning optimism in the crypto market.

INTEL: CRYPTO NOT MENTIONED AS IMMEDIATE PRIORITY IN DOCUMENT SENT BY REPUBLICAN LAWMAKERS

— Solid Intel 📡 (@solidintel_x) January 20, 2025

Trump’s campaign promises had previously fueled enthusiasm within the cryptocommunity. The president had pledged to position the United States as a global leader in crypto and stated that a national Bitcoin reserve would never be sold. Post-election, speculation was rampant about potential executive orders targeting crypto regulations, including measures addressing the contentious SAB121 and FIT21 bill.

Major Pro-Crypto Appointments

Despite the omission of cryptocurrencies from the administration’s immediate priorities, pro-crypto voices have been appointed to key positions. On Monday, Trump named Caroline Pham as Acting Chair of the Commodity Futures Trading Commission (CFTC) and Mark Uyeda as Acting Chair of the Securities and Exchange Commission (SEC).

Both Pham and Uyeda are known proponents of digital assets and have consistently advocated for clear and comprehensive regulations in the sector. Their appointments have sparked interest within the crypto community, with observers pointing to their track records of supporting innovation and clarity in the regulatory landscape.

The omission of crypto initiatives from the administration’s list has tempered short-term excitement, particularly given earlier indications that the president would make decisive moves to integrate crypto into the financial framework. Leading figures in the crypto industry, including Senator Cynthia Lummis, had previously championed the establishment of a Bitcoin reserve and the need for supportive regulatory changes.

While the market reaction underscores immediate concerns, the appointments of Pham and Uyeda suggest the administration could still take significant pro-crypto steps.