Crypto Markets React as Trump’s First-Day Executive Orders Skip Digital Assets

President Donald Trump’s return to office on January 20 brought a flurry of executive orders, yet none addressed crypto regulations, leaving the community anxious about the administration’s commitment to digital assets. The lack of immediate action coincided with a sharp 6% decline in Bitcoin’s price, which slid from its all-time high of $108,786 to $102,000.

Crypto Community Divided on Day-One Inaction

Despite the silence on crypto, many industry voices remain optimistic. Futures trader “Satoshi Flipper” pointed to Trump’s weekend actions, including his promotion of a memecoin, as evidence of his dedication to the sector. “He’s fully locked in,” the trader posted to their 225,000 followers, dismissing fears of declining market momentum.

Similarly, Reflexivity Research co-founder Will Clemente reassured the community, stating on X that pro-crypto regulations are forthcoming. “We live in such a bubble. This isn’t a setback,” Clemente added.

Regulatory Leadership Brings Hope

While Trump himself has yet to address Bitcoin or digital assets, the appointments of pro-crypto leaders to key regulatory roles have bolstered optimism. Mark Uyeda and Caroline Pham, the new acting chairs of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), respectively, are noted for opposing regulation through enforcement. Blockchain Association board member Jake Chervinsky praised the appointments, highlighting their potential to establish clear rules for the crypto industry.

Others in the community emphasized patience, noting that Trump’s first-day agenda was unlikely to include a focus on Bitcoin. MacroScope, a prominent asset management commentator, remarked, “Bitcoin wasn’t an appropriate topic for an inaugural speech. The headlines will come in the following weeks.”

Circle CEO Jeremy Allaire, speaking at the World Economic Forum in Davos, also shared his expectations for imminent progress in U.S. crypto legislation. Allaire specifically called for Congress to repeal the SEC’s Staff Accounting Bulletin 121, which restricts banks from holding cryptocurrency on their balance sheets. He urged President Trump to take decisive action to address this issue.

Though the crypto market saw an initial dip in reaction to the perceived inaction, experts are confident that Trump’s administration will bring renewed focus to digital asset policies.