Trump’s State of the Union ends without any mention of ‘Bitcoin’…gains on expectations erased

With President Donald Trump making no direct mention of Bitcoin in his State of the Union address, the crypto market saw short-term volatility.

In the address on the 24th (local time), Trump highlighted achievements in his tariff policy, a tax-cut stance, responses to Iran’s nuclear issue, and approval of a $1 trillion defense budget, but made no remarks related to digital assets, including Bitcoin. The market had previously built expectations that he might deliver a crypto-related message, given his pro-crypto moves.

Amid those expectations, Bitcoin (BTC) rebounded to around $66,000 before and after the speech. However, as no direct reference emerged, profit-taking selling surfaced and it slid back to around $65,000.

The speech included a claim that tariff policy helped drive the Dow Jones Industrial Average past 50,000, along with comments suggesting tariffs could eventually serve as a tool to replace income taxes. He also reiterated that he would never tolerate Iran possessing nuclear weapons and reconfirmed the approval of a $1 trillion defense budget.

Some in the market had expected that if the speech included Bitcoin-related remarks, additional upside momentum could form, but in the end no specific message emerged. As a result, analysts say a short-term pullback followed after “expectations were priced in.”

The crypto market continues to react sensitively to political events and policy comments. Going forward, Trump’s policy direction and legislative discussions on crypto in Congress are expected to act as key variables driving price volatility.