Bitcoin Dips to $100K

Bitcoin (BTC) experienced a setback during Monday’s Asian trading hours, dipping to below $100,000. This decline marked a 4.5% drop in the past day.

The memecoins TRUMP and MELANIA are at the center of this trading frenzy. After its debut, the MELANIA token surged dramatically, attracting significant attention and liquidity, much to the detriment of its predecessor, the TRUMP token.

On debuting, the TRUMP token fell 30% from its peak over the weekend, settling around $49. This drop coincided with Melania Trump launching her own memecoin, further destabilizing the TRUMP token’s market presence.

“The Official Melania Meme is live! You can buy $MELANIA now,” Melania Trump posted on X on Sunday.

Meanwhile, other analysts like CIO of Arca, Jeff Dorman, suggest that the introduction of the TRUMP token marks a shift in the cryptocurrency landscape, stating,

“This is now completely eradicated when the President himself is both an issuer and an investor.”

As the market watches, anticipation grows around potential executive announcements surrounding Bitcoin, particularly as the new administration settles into place.