The digital asset market is struggling with frustration. Despite Donald Trump's presidential campaign promises of unprecedented support for the cryptocurrency market, he made no mention of establishing a strategic Bitcoin reserve in the document titled "President Trump's America First Priorities," a major order released by the administration of the new president.
The key priorities outlined in the document include public safety, energy independence, government reform to tackle bureaucracy, and "restoring American values."
Notably, after Trump's inauguration, only 30% of participants in a recent Polymarket poll believe that the new US president will address the creation of a BTC reserve within the first 100 days of his term.
For Bitcoin, the absence of any mention in Trump's speech was nearly disastrous: the token saw a sharp drop in price. As a result, the first cryptocurrency fell by 2% on January 20.
"The digital asset market is disappointed to not have been mentioned in the inauguration speech or Day One executive orders," Geoffrey Kendrick, head of digital asset research at Standard Chartered, said. "I suspect Bitcoin will end up going lower so long as we get no news from Trump on digital assets. A break back below $100,000 seems inevitable," he added. However, some analysts remain optimistic. Jeremy Allaire, CEO of stablecoin issuer Circle, believes that the White House will soon sign executive orders on digital assets.
