Analyst: Trump's inauguration may become a catalyst for the rise of BTC

ChainCatcher news, according to CoinDesk, analyst Omkar Godbole stated that the defensive positioning in the stock market may stem from concerns that President-elect Trump's inauguration on January 20 could become a "buy the rumor, sell the news" event. Over the past two months, risk appetite in the financial markets has increased, with the market anticipating that the incoming Trump administration will implement reforms favorable to businesses and the economy, but the possibility of profit-taking cannot be ignored.

Trump will be inaugurated on January 20, and there is widespread expectation that this move will drive changes in cryptocurrency regulation, and may even establish strategic Bitcoin reserves in the coming months, both of which could support the next round of market trends. QCP Capital shares a similar view and suggests that traders should wait for new U.S. economic data on Friday before making further positioning.