Bitcoin Slumps, But Trump’s Latest Reserve Push Adds New Twist
Bitcoin faces a significant downturn, trading around $81,600, down 25% from its January peak of $109,000, amidst global market uncertainties. With intensified selling pressure and traders increasingly using protective options, market sentiment remains cautious. The recent slippage below $92,000—a key support level—reflects a shift in market psychology, as aggressive buying that characterized previous downturns is absent. Political developments from the U.S. government may offer a glimmer of hope; reports suggest the Trump administration is aiming to expand Bitcoin holdings, potentially impacting market dynamics. Amid rising trade tensions and inflation concerns, Bitcoin's downturn continues, alongside declines in major indices like the S&P 500. Additionally, recent announcements about establishing a Strategic Bitcoin Reserve by the administration and the reintroduction of relevant legislation signal a commitment to integrating Bitcoin into U.S. financial policy. Analysts indicate that without renewed buying interest, Bitcoin may face prolonged consolidation or correction before stabilizing.
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