Today, cryptocurrency enthusiasts felt a sense of optimism as the White House shared positive news regarding digital currencies for the first time. However, despite this encouraging information, Bitcoin’s price unexpectedly dropped below $98,000. This decline is particularly concerning for altcoins, which are experiencing significant market pressure.
Key Insights from Crypto Advisor’s Announcement
David Sacks, appointed by Trump to oversee cryptocurrency matters, made notable statements on Bitcoin $98,111 reserves. He indicated that investigations into strategic Bitcoin reserves are underway. Yet, the market reacted with selling, as if a reserve could be launched without any regulatory framework. We are indeed witnessing intriguing times.
Sacks emphasized that the current approach towards cryptocurrency has been inadequate and stressed the necessity for the U.S. to support
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