The prices of the world’s largest cryptocurrencies fell on Sunday with Bitcoin dropping below $82,500 as investors panic amid economic uncertainty, regulatory fears, and massive liquidations. The decline was seemingly triggered by the announcement by the US of a Strategic Reserve and intentions to accumulate more and the US Securities and Exchange Commission (SEC) dropping its cases against cryptocurrency exchanges Coinbase and Kraken, leading to the downturn. Bitcoin slumped 4.52%, selling for $82,439 at 1:02 pm ET. Ethereum plummeted 8.12%, selling for $2,024 a minute later.
The much-anticipated White House Crypto Summit on Friday ended with a whimper rather than a bang for cryptocurrency traders, sending altcoins like XRP, Cardano’s ADA, and Solana’s SOL into steeper declines than market leader bitcoin (BTC). Investors had pinned high hopes on President Donald Trump’s pro-crypto stance, expecting bold announcements about a U.S. strategic crypto reserve that would prominently feature major altcoins.
Instead, the summit delivered a more subdued outcome: a framework for stablecoin legislation before August and assurances of a lighter regulatory touch—moves that failed to ignite the market as anticipated.
NN: Fridays bitcoins publicity stunt was a dismal failure. Their s no reserve and their will not be one. Holding 20 billion of confiscated bitcoin is not a reserve,,,,, its a sick joke