Bitcoin falls to $102,600 after Trump's lack of crypto-related executive orders

From Investing.com
January 23, 2025 01:15:38 AM:

Bitcoin faced a decline after a brief rally on hopes of crypto-friendly policies from President Trump, with his memecoin also dropping. The SEC announced a task force for crypto regulation, but markets were disappointed by the lack of executive orders from Trump. Bitcoin fell 2.9% to $102,600.2.

Bitcoin struggled to maintain gains as optimism waned, despite the SEC’s announcement. Trump’s lack of crypto-related executive orders and threats of tariffs affected market sentiment. Trump’s memecoin, $TRUMP, fell 13.7% to $37.413. Questions arose over Trump’s gains from the token.

BlackRock CEO Larry Fink predicted Bitcoin could reach $700,000 if more people adopt it due to concerns over economic and political stability. Fink sees Bitcoin as an internationally based instrument but clarified he wasn’t promoting it. BlackRock’s iShares Bitcoin Trust saw initial capital flows but has since slowed.

Altcoins followed Bitcoin’s losses, with Ethereum dropping 3% to $3,216.16 and Binance Coin falling 0.7% to $3.1404. Cardano, Solana, and Dogecoin sank between 2% and 4%, while Shiba Inu lost 3.8%. The broader crypto market mirrored Bitcoin’s decline.

Read more at Investing.com: slips to $102k as Trump boost fades, $TRUMP tumbles By Investing.com