One year into Trump’s presidency: how crypto sentiment changed

Let’s look back at the first yr of Trump’s presidency and the way crypto crowd mood shifted over time.

After November 6, 2024, when Donald Trump gained the election, market sentiment flipped straight into risk-on. That date turned the baseline on the chart.

Optimism built shortly and peaked by January 7, 2025, as expectations around a friendlier surroundings have been absolutely priced in.

After the January 20, 2025 inauguration, sentiment didn’t really discover its footing. Over the subsequent months it slowly pale. Rallies turned shorter and recoveries misplaced power.

A clear inflection exhibits up on October 23, 2025, when Trump pardoned CZ. Regardless of being a constructive headline, sentiment crossed back under the election baseline as an alternative of turning larger.

As of January 22, 2026, sentiment continues to be pushing lower. The sample seems to be much less like worry and more like exhaustion, with each constructive signal having a weaker impression than before.

Sentiment is now virtually as far under the baseline as it as soon as was above it. What do you assume this symmetry points to: a full emotional unwind or the setup for the subsequent cycle?