"God candle," Samson Mow, a bitcoin developer who leads the Jan3 bitcoin wallet company, posted to X and referring to a sudden spike in the bitcoin price that creates a "candle" on a trading chart as the bitcoin price suddenly soared, hitting $109,400 on the Coinbase bitcoin and crypto exchange.

BTC has pulled back to $100K as Melania Trump launched her own memecoin, stalling the surge in the TRUMP token.

Data shows TRUMP amassed over $19 billion in volumes over a 24-hour period, while MELANIA saw $4.5 billion exchange hands.

Cryptocurrencies affiliated with President Donald Trump and first lady Melania Trump plummeted in the initial hours after Trump was sworn into office Monday.

Bitcoin hit a record $109,241 as the US readies for pro-crypto President-elect Donald Trump’s inauguration. The cryptocurrency surged 5.5% amid excitement over Trump’s meme coins, despite a subsequent market decline.

Bitcoin, however, is a fundamentally different, hard asset. While the mania surrounding crypto often spills over into Bitcoin’s price movements, Bitcoin itself remains largely unaffected in the long term. It continues to progress steadily, and I believe we’ll see a full recovery soon.

"I think he is excited about it. I mean, he really wants to be the first bitcoin president," Coinbase ( COIN) CEO Brian Armstrong told Yahoo Finance at the World Economic Forum in Davos, Switzerland. Armstrong met with Trump before and after the election to advocate for the crypto industry.

But as his presidency approached, he also offered more specific support to the cryptocurrency market. After the launch of his own $TRUMP coin, his wife launched her own $MELANIA competitor – the combination of which led to volatility in the cryptocurrency market.

"It's anyone's guess as to what will happen next, but it feels like it's going to be wild," Greenlight Capital founder David Einhorn said.

The sale of Trump’s meme coin was organised by CIC Digital, an affiliate of the Trump Organization. The website for the coin promotes it as a fun expression of support, rather than an investment opportunity. It also notes that 200 million Trump meme coins are available, with plans to release 1 billion over the next three years.

Melania Trump's bold inauguration hat has set the internet on fire! The navy wide-brimmed hat with white trim is definitely iconic! But did it really keep Trump at bay?