Viewpoint: Although the short-term shows characteristics of a bear market, the U.S. government's positive shift in attitude towards digital assets will still bring long-term benefits

2025-03-10 19:26:41

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ChainCatcher news, CoinDesk analyst James Van Straten stated that although the short-term shows characteristics of a bear market, the positive shift in the U.S. government's attitude towards digital assets may bring long-term benefits for Bitcoin.

Since President Trump took office on January 20, the price of Bitcoin has fallen from $109,000 to $80,000, displaying a typical "sell the news" pattern. This price movement is similar to the situation after the listing of the U.S. spot Bitcoin ETF in January 2024. At that time, Bitcoin rose over 40% from October 2023 to January 2024, but experienced a 20% pullback after the ETF was listed. Following Trump's election victory, Bitcoin surged 60% and reached an all-time high of $109,000, before undergoing a nearly 30% correction.

Analysis shows that both events followed a similar pattern: positive news triggered local peaks in Bitcoin prices, followed by significant pullbacks. Although the short-term shows characteristics of a bear market, the positive shift in the U.S. government's attitude towards digital assets may bring long-term benefits for Bitcoin.

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