On January 20 2025, the day of the presidential inauguration, Bitcoin traded up to $110,000 for a new all-time high as markets bet on a crypto-friendly administration. The inaugural address did not mention crypto, and the price spent the rest of the day giving the move back, closing within 1% of where it opened.
This is a hard session because the day had a 10% range and almost no net change: a trader who bought the record, or sold the reversal, could have been right about the direction for hours and still finished flat or worse.
Same engine, same hidden right-hand side — a different day's problem.