BlockBeats news, on January 9, reported by CoinDesk, analyst Omkar Godbole stated that the defensive positioning in the stock market may stem from concerns that President-elect Trump's inauguration on January 20 could be a 'buy the rumor, sell the news' event. Over the past two months, risk appetite in financial markets has increased, with expectations that the incoming Trump administration will implement reforms favorable to businesses and the economy, but the possibility of profit-taking cannot be ignored.
Trump will be inaugurated on January 20, and there is widespread expectation that this will drive changes in cryptocurrency regulation, and may even establish strategic Bitcoin reserves in the coming months, both of which could support the next market cycle. QCP Capital holds a similar view and suggests that traders should wait for new U.S. economic data on Friday before making further moves.
