Crypto Buzz Fades as Trump Takes Office

Plus, a closer look at DJT's performance

Fernanda Horner

Digital Content Manager

Jan 21, 2025 at 12:12 PM

Much has been made of the potential impact of a Trump administration on cryptocurrencies, but the day after President Donald Trump's inauguration, the sector is sliding. Let's check in with MicroStrategy Inc (NASDAQ:MSTR) and Coinbase Global Inc (NASDAQ:COIN), as well as Trump Media & Technology Group Corp (NASDAQ:DJT).

MSTR is down 2.3% to trade at $387.46 at last check, and could today snap a five-day win streak. The company just acquired another $1.1 billion of Bitcoin (BTC), but the shares are falling after President Trump did not mention crypto in his inaugural speech. The equity still sports a massive 720.5% year-over-year lead, and has long-term support from the 80-day moving average.

COIN was last seen down 1.4% to trade at $291.42, pulling back from a bounce off its own 80-day trendline that fell short of $300, a level that has been acting as resistance since mid-December. The security added 126.7% in the past 12 months, however, and already rose 17.2% in 2025.

Underperforming the bunch, DJT is down 11.4% to trade at $35.42 at last check, pacing for its worst day since Nov. 7. The shares carry a 28.1% year-over-year deficit, but a floor at the $32 level -- which has providing a floor since early December -- looks positioned to contain additional losses.

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