News 
January 23, 2025 
3 min. 
US cryptocurrency stocks experienced a decline on President Donald Trump’s first day in office. Despite expectations, Trump did not address the crypto industry, which led to disappointment among investors. The market anticipated actions on crypto but was left without news.
On January 21st, several crypto-related stocks closed lower. Riot Platforms (RIOT) saw a drop of 4.85%, while Mara Holdings (MARA) fell by 1.76%. Terawulf Inc (WULF) decreased by 6.88%, and CleanSpark (CLSK) saw the largest drop at 7.67%. These declines show the ongoing uncertainty in the sector.
Crypto exchange Coinbase (COIN) also saw a volatile day. It dropped more than 8.5% to $274.80 in the first hour of trading but managed to close nearly flat at $294.19. MicroStrategy (MSTR) showed similar movement, closing down 1.87% at $389.10 after recovering from a 7% dip earlier in the day.
Bitcoin’s Strong Performance During Market Downturn
While crypto stocks struggled, Bitcoin’s performance remained strong. Bitcoin rebounded toward its recent all-time high of $108,659. It rose by 3.45% in the last 24 hours, trading at $105,770, according to CoinMarketCap data.
This price movement comes despite the lack of direct action from the new administration regarding cryptocurrency. Crypto advocates had hoped that Trump would take steps to support the industry, particularly after his campaign promises. However, his first day in office did not offer any significant developments for crypto.
Stock Market Shows Slight Increase
While crypto stocks faced declines, the broader stock market showed signs of optimism. The S&P 500 rose by 0.88%, indicating a positive outlook for traditional markets. This came after a market break on Martin Luther King Jr. Day, with investors hopeful about a pro-business policy under the Trump administration.
The US dollar Index also saw a decrease, falling by 1.27% from its recent high. This decline contributed to the overall market sentiment, though the crypto sector remains focused on future developments.
