-$BTC slightly decreased on Monday after the weekend rally, as the market awaits new signals on cryptocurrency policy from incoming U.S. President Donald Trump.
-Concerns about a possible sell-off from the now-defunct Mt. Gox exchange have also intensified after a wallet associated with the exchange moved coins worth over $2 billion last week. Such movement typically heralds a distribution event, as Mt. Gox still holds billions of dollars in Bitcoin that it plans to return to creditors.
-As of 08:43 MSK, the price of Bitcoin decreased by 0.1% to $99,500.
-Cryptocurrency Trump rally on pause
-Optimism regarding favorable cryptocurrency regulation under President Donald Trump led to a sharp increase in Bitcoin last week, reaching a record high of $103,990.
-Last week, optimism regarding the Republican's political plans increased after he appointed the head of the Securities and Exchange Commission. He also named candidates who support cryptocurrencies for the positions of Treasury Secretary and Secretary of Commerce.
-Trump has promised that during his second term he will introduce cryptocurrency-friendly regulations, turning America into the 'crypto capital' of the world. He also proposed the idea of creating a strategic Bitcoin reserve, although analysts are skeptical about the prospect of creating such a reserve.
-Bitcoin continues to trade near recent highs, although traders are now awaiting new signals on cryptocurrency policy ahead of Trump's inauguration on January 20.
-Altcoins are outperforming Bitcoin
-One of the trends in recent weeks is that altcoins are rising much stronger than Bitcoin, hoping that increased regulatory clarity will shift the market's focus from Bitcoin to broader use cases.
-XRP has become one of the biggest beneficiaries of this trading, soaring to six-year highs as traders bet that with Trump's rise to power, the SEC will also drop its long-standing lawsuit against Ripple's issuer.
-The sharp decline in Bitcoin's dominance supports the view of the advantages of altcoins. According to Coinmarketcap, Bitcoin's dominance fell to a one-month low of 55%.
-Bitcoin's rally this year has overshadowed most other cryptocurrencies. However, they were trading at potentially attractive levels.
-Market today: altcoins drift down following Bitcoin
-Although major altcoins have performed better than Bitcoin in recent weeks, their rally also faded on Monday in line with the main cryptocurrency.
-The world's second-largest cryptocurrency, Ether, fell by 1% to $3,939.69, while XRP, which recently became the third-largest cryptocurrency, dropped by 0.5% to $2.4821.
-Cryptocurrencies Solana, Cardano, and Polygon fell by 1.6-2.5%, while among meme tokens, Dogecoin dropped by 4.6%.
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