After reaching an all-time high of $109,000, Bitcoin and other cryptocurrencies experienced a significant drop in price shortly following Donald Trump's inauguration speech. The market reacted to the lack of specific details and immediate actions to support the crypto industry, despite promises of development.

The decline started with Bitcoin falling below the $102,000 mark, which triggered a wave of long position liquidations on crypto exchanges. The downturn was also influenced by investor expectations regarding Federal Reserve policies and potential macroeconomic changes that could affect liquidity and inflation.

Meme coins like $TRUMP and $MELANIA also saw significant price drops after the inauguration, indicating high volatility in the market, especially among assets linked to political figures and events.

The overall market capitalization of cryptocurrencies has decreased in the last 24 hours.