Inauguration week: To sell, or not to sell?

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13 Jan 2025

Inauguration week: To sell, or not to sell?

High correlations and broad de-risking amidst dollar strength pushed BTC below $90k. We're entering a week destined for unpredictable action, culminating in Trump's inauguration. Will it be a sell-the-news event?

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Bitcoin bounces hard from sub-$90k

A rallying dollar and soaring 10-year treasuries sent stocks and BTC lower this week. Crypto specific news also continues to impact the market. It was revealed that the DOJ has given the go-ahead for 69,370 Silk Road BTC to be sold, but this news was soon followed by yesterday's headlines of Trump pursuing pro-crypto executive orders on day 1, which was enough to send BTC price bouncing back after a brief stint below $90k. Wednesday's CPI print is expected to induce another bout of sharp price action.

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