Bitcoin traded at $65,082 on Wednesday after gaining 3% in 24 hours, even as President Donald Trump delivered his State of the Union address without mentioning cryptocurrency or Bitcoin. The omission has left investors and market watchers debating what comes next for the digital asset.
In a post on X, gold advocate Peter Schiff about Bitcoin’s price spike. He noted that Bitcoin could sell off after Trump’s speech either way, if not mentioned, due to disappointment; if mentioned, due to insiders selling the news.
He reiterated his long-standing view that investors should favor gold over . Schiff also argued that Bitcoin promoters try to redirect potential gold buyers toward what they call “digital gold.” He previously warned of Bitcoin’s possible crash to $20,000.
Other market participants note that Bitcoin’s movement is more influenced by liquidity and ETF flows than by speeches. One trader that more than 25,000 Bitcoins were redeemed from ETFs, pressuring prices as fund managers sell holdings to meet redemptions.
Another market observer emphasized that narratives can create short-term volatility, but liquidity and investor positioning ultimately dictate broader trends. Sharp price swings can occur both before and after widely anticipated events, independent of their actual content.
Trump’s address focused heavily on domestic and economic issues rather than cryptocurrency. Highlights included:
Despite Bitcoin’s 3% gain during the speech, analysts, including Derek Lim of crypto market-making firm Caladan, say the price move reflected risk appetite and positioning ahead of Nvidia’s earnings rather than any direct link to Trump’s remarks.
Bitcoin remains down 4% over the past week and 26% over the past month. The rebound following the SOTU has narrowed losses but not erased them.
While political headlines can influence short-term trading, market participants continue to watch ETF flows, liquidity conditions, and investor positioning as the primary indicators of where prices may head in the coming weeks.
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