博链BroadChain learned that at 08:16 on April 23, according to NewsBTC, John Bollinger, the founder of Bollinger Bands, posted on the X platform on April 21, pointing out that Bitcoin, XRP, and the entire cryptocurrency market need a breather from the sustained capital withdrawal pressure from Washington. Although he did not cite specific data or point to policies, his mention of the "current government" has drawn attention in a market already sensitive to the Trump camp and its associated crypto projects.
Bollinger questioned whether the current government has stopped withdrawing capital from the crypto sector and called for an assessment of the scale of its impact. He also tagged BTC, ETH, LTC, and XRP, emphasizing his focus on the overall market conditions. Market interpretation suggests his core view is that the crypto market is excessively acting as a political ATM rather than trading based on its own fundamentals.
A typical case is the TRUMP meme coin, where related entities collected nearly $100 million in transaction fees within two weeks of its issuance, while a large number of retail investors suffered losses, and 80% of the token supply is controlled by Trump's business associates. Another Trump family-backed project, World Liberty Financial, raised over $550 million through the sale of WLFI governance tokens, with the Trump family holding 60% equity and 75% of the net token sales revenue, and only about 5% of the raised funds used for platform development.
Although capital flowing into Trump-associated projects does not directly and equally drain liquidity from Bitcoin or XRP, in a cycle of limited capital, politically charged tokens, insider-dominated token sales, and high-fee speculative issuances do divert market trading interest and risk appetite away from mainstream liquid assets. If this trend eases, Bitcoin and XRP may have a chance to break free from competing for capital against macro headwinds and government-linked projects. As of press time, XRP is trading at $1.45.