What a wild ride we’ve had in the crypto world, huh? Just when it seemed Bitcoin was gearing up for a surge past the $94,000 mark, it quickly nosedived, leaving traders scratching their heads. The whole market followed suit, making it feel like every altcoin from SOL to DOGE took a tumble too. With sudden volatility sweeping through the market right after President Trump’s move to establish a cryptocurrency reserve, we’re left to ponder: is this the fleeting thrill of digital assets, or a deeper concern for investors? In this article, we’ll unravel the rapid shifts in Bitcoin’s value and the broader implications for the entire crypto landscape. Buckle up—it’s bound to be an intriguing journey! LEARN MORE.
Bitcoin’s rally past $94,000 was short-lived as the asset dumped just as quickly and slumped below $84,000, thus erasing all the gains from Sunday’s surge.
The altcoins have suffered even more, with the likes of SOL, DOGE, ADA, LINK, and many others posting double-digit price declines over the past 24 hours.
BTC Rejected Violently
Probably very few people might have expected the massive volatility bitcoin and the entire crypto market will have to go through once Donald Trump took office. Let’s leave the months heading to his inauguration aside and even the crash from last week, which was mostly blamed on his tariffs and other geopolitical decisions.
Let’s focus only on the events that transpired in the past 48 hours or so. Recall that on Sunday afternoon, the US president confirmed plans that his administration will work on a crypto reserve. This resulted in immediate price surges from most digital assets, especially those that he namedropped.
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