Bitcoin bounced back above $106,000 on Jan. 21, recovering losses from the previous day’s pullback as traders reacted positively to President Donald Trump’s economic policies.
US stock markets, closed on Jan. 20 for Martin Luther King Jr. Day, opened higher, reflecting optimism over Trump’s pro-business agenda. The S&P 500, Dow Jones, and Nasdaq (QQQ) gained 1.21%, 0.82%, and 2.79%, respectively.
Meanwhile, the US Dollar Index (DXY) declined 1.27% from its two-year high of 110 on Jan. 15 to trade slightly above 108, following a smooth presidential transition and cooling geopolitical tensions.
Despite the positive sentiment, Bitcoin traders remain cautious due to the absence of expected crypto-related executive orders from Trump’s administration, which many had hoped for on his first day in office.
Source: Cointelegraph
