Odaily reports that CoinDesk analyst James Van Straten wrote that since President Trump's inauguration on January 20, the price of Bitcoin has fallen from $109,000 to $80,000, a typical "news dump" event. This pullback has continued since the digital asset summit on Friday. Although the price trend may signal a short-term bearish outlook, Bitcoin bulls may view it as a long-term positive catalyst, as the US government has shifted from a hostile stance of the previous administration to a more friendly one. Similar price movements occurred during the highly anticipated launch of the US spot Bitcoin ETF in January 2024. From October 2023 to January 2024, Bitcoin soared from $25,000 to $49,000, a gain of over 40%. However, the launch of the ETF marked a local high, as the price fell 20% in the following weeks, eventually reaching a new high of over $73,000 in March. This time, after Trump's victory in the US presidential election in November, Bitcoin rose 60% and hit a new all-time high of $109,000 in January, followed by a nearly 30% correction. The common pattern in these two cases is that positive news has triggered local highs in Bitcoin prices, followed by significant corrections. The next variable is whether Bitcoin will start to rise after this correction ends, which largely depends on the macroeconomic environment. (CoinDesk)