Bitcoin's price has stabilized near $85,000 following a recent statement from President Trump and positive feedback from the Federal Reserve. After briefly reaching an intraday high of $87,453, Bitcoin's price retraced to $83,655 following Trump's announcement, which did not reveal the anticipated policies concerning cryptocurrency taxes or a strategic Bitcoin reserve. Instead, Trump reiterated his commitment to confiscated Bitcoin and urged Congress for stablecoin legislation, while declaring a vision of making the U.S. a crypto powerhouse. Trader commentary notes that the earlier expectations of favorable announcements led to a sell-off once the actual statements fell short. Analyst Aksel Kibar remarked on the potential for Bitcoin to correct back to $73,700. Additionally, Bitcoin has shown resilience since the Federal Reserve's recent meeting, where a potential slowdown in quantitative tightening was discussed. BitMEX co-founder Arthur Hayes commented on the implications of this policy change, urging traders to remain vigilant due to potential market volatility.

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