Bitcoin's supposed decentralization is being questioned as it reacts more to political figures like Donald Trump than to traditional financial entities like central banks.
Trump's statements have directly influenced Bitcoin's price, causing fluctuations based on his announcements and actions.
Even other cryptocurrencies like Dogecoin are now reacting to Trump-themed content, showcasing how political influence is affecting the crypto market as a whole.
Institutional involvement in the crypto ecosystem, particularly through Bitcoin spot ETFs, is further amplifying the market's reaction to political news, with suspicions of well-timed trades by influential individuals.