Bitcoin Limp as US Ditches "Disastrous" Red Tape, Crypto Markets Fail to Rally

On January 24, Bitcoin briefly reached $105,000, but failed to rally despite news of a potential US digital asset stockpile. President Donald Trump signed an executive order to evaluate the creation of a national digital asset stockpile and rescinded legislation that prevented US banks from custodying crypto. However, the crypto market remained confused and failed to find upward momentum, with Bitcoin staying within its local range and altcoins remaining flat. Some analysts suggested that the lackluster reaction was premature and that the market was witnessing a huge sea change towards a more Bitcoin-friendly administration.