Bitcoin slips, Trump token plunges over 20% as bullish crypto sentiment cools

A cartoon image of US President-elect Donald Trump with cryptocurrency tokens, depicted in front of the White House to mark his inauguration, displayed at a Coinhero store in Hong Kong, China, on Monday, Jan. 20, 2025.

Paul Yeung | Bloomberg | Getty Images

Bitcoin and other cryptocurrencies sank on Tuesday, as bullish investor sentiment surrounding cryptocurrencies cooled after President Donald Trump’s inauguration.

TRUMP, a token launched last week that represents the new U.S. leader, plunged as much as 22% in 24 hours, according to CoinGecko data.

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