Bitcoin’s price dropped by nearly 10 per cent on Monday, as growing trade tensions and uncertainty surrounding the establishment of a U.S. cryptocurrency reserve fund led investors to retreat from risk.<\/p>\n\n\n\n
Initially,\u00a0Bitcoin\u00a0and other digital assets surged following U.S. President Donald Trump’s remarks about creating a national cryptocurrency reserve. However, concerns over the feasibility of the plan soon triggered a sharp decline.<\/p>\n\n\n\n
Late in the day, Bitcoin was down 9.47 percent at $85,321.69 each. The cryptocurrency market\u2019s total valuation remains above a trillion dollars, with Bitcoin holding the largest share.<\/p>\n\n\n\n
Ether, the second-largest digital asset, experienced a decline of over 15 per cent, while other major cryptocurrencies like XRP, Cardano, and Solana dropped nearly 20 per cent.<\/p>\n\n\n\n
\u201cEverything is getting sold. There’s a de-risking that’s unfolding among crypto investors,\u201d said Forexlive manager Adam Button.<\/p>\n\n\n\n
What’s the hype about Donald Trump’s crypto reserve?<\/p>\n\n\n\n
Trump said that his executive order on digital assets, issued in January, would establish a reserve of various cryptocurrencies, including Bitcoin, Ether, XRP, Solana, and Cardano\u2014names that had not been disclosed earlier.<\/p>\n\n\n\n
He emphasized that Bitcoin and Ether would be central to this reserve. In a post on Sunday, his remarks led to a 20% surge in Bitcoin from its November lows. The cryptocurrency had been declining since mid-January amid concerns that Trump had not fulfilled his promises to ease regulations.<\/p>\n\n\n\n
The downturn in crypto prices was influenced by Trump\u2019s announcement of a 25 per cent tariff on all imports from Mexico and Canada, both of which have vowed to retaliate.<\/p>\n\n\n\n
Cryptocurrency prices surged early Monday after Trump mentioned five digital assets the previous day as potential candidates for a national strategic reserve fund.<\/p>\n\n\n\n
Button believes that fears surrounding the trade war are intensified by concerns over US economic growth, which many expect to slow in the first quarter.<\/p>\n\n\n\n
Despite this, Trump’s pledge to establish a strategic reserve has sparked enthusiasm within the crypto industry, which has been struggling in recent weeks.<\/p>\n\n\n\n
In February,\u00a0Bitcoin\u00a0dropped over 17 per cent, marking its steepest monthly decline since June 2022. Since reaching a peak of $105,000 in early January, it has lost more than a third of its value.<\/p>\n\n\n\n
Bitcoin’s surge following Trump’s November election victory was driven by optimism that he would support a strategic Bitcoin fund and put an end to former President Joe Biden’s regulatory crackdown.<\/p>\n\n\n\n
Eqwires Research Analyst<\/a><\/strong><\/p>\n\n\n\n Top-notch SEBI registered research analyst<\/a><\/strong><\/p>\n\n\n\n Best SEBI registered Intraday tips provider <\/a><\/strong><\/p>\n\n\n\n info@eqwires.com<\/strong><\/a><\/p>\n\n\n\n Telegram <\/a>| Facebook <\/a>| Instagram<\/a><\/strong><\/p>\n\n\n\n Call: +91 9624421555 \/ +91 9624461555<\/em><\/strong><\/p>\n\n\n\n www.eqwires.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin’s price dropped by nearly 10 per cent on Monday, as growing trade tensions and uncertainty surrounding the establishment of a U.S. cryptocurrency reserve fund led investors to retreat from risk. Initially,\u00a0Bitcoin\u00a0and other digital assets surged following U.S. President Donald Trump’s remarks about creating a national cryptocurrency reserve. However, concerns over the feasibility of the plan soon triggered a sharp decline. Late in the day, Bitcoin was down 9.47 percent at $85,321.69 each. The cryptocurrency … Continue reading “Bitcoin dips 10% on Donald Trump\u2019s strategic crypto reserve move; other cryptos down 20%”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":3776,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74],"tags":[],"class_list":["post-3775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-sebi-registered-advisory-company"],"_links":{"self":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/3775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/comments?post=3775"}],"version-history":[{"count":1,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/3775\/revisions"}],"predecessor-version":[{"id":3777,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/3775\/revisions\/3777"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/media\/3776"}],"wp:attachment":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/media?parent=3775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/categories?post=3775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/tags?post=3775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}