Bitcoin (BTC) experienced an 8% drop as President Trump took office, following a rally that saw its price exceed $110,000. After trading as low as $101,440 on Binance, traders are hopeful for a potential strategic Bitcoin reserve announcement and new offerings from Trump's World Liberty DeFi project that could stabilize prices. Despite the sell-off, the Official Trump memecoin saw significant gains, although it dropped over 40% in the past 24 hours to below $39. Market participants showed anxiety regarding Trump's potential executive order for a national Bitcoin reserve, with Polymarket showing a 64% chance of this happening. However, Eric Trump hinted at positive developments from the World Liberty team, possibly restoring market confidence. This current market behavior aligns with historical trends of profit-taking at all-time highs, making the volatility seen in Bitcoin and the memecoin a common occurrence in cryptocurrency markets.

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