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The cryptocurrency market is experiencing a downturn as traders react to President Trump’s recent Executive Order regarding the Strategic Bitcoin Reserve and escalating U.S. trade tariffs. Bitcoin has fallen approximately 4.8%, trading at around $81,729, while Ethereum’s value has decreased by 8%, settling slightly above the $2,000 mark, bringing concerns about the overall health of digital assets. According to QCP Capital, “The knee-jerk reaction lower likely stems from the realization that no actual budget has been allocated for Bitcoin purchases in the near term.” As market sentiment turns negative, Bitcoin and Ethereum face losses following Trump’s Strategic Bitcoin Reserve order amidst rising trade tensions. Discover more. Market Reactions to Trump’s Bitcoin Reserve Order and Trade Tariffs The recent announcement by President Trump regarding the establishment of a Strategic Bitcoin Reserve has led to immediate volatility within the cryptocurrency markets. Bitcoin’s value dropped significantly, illustrating traders’ skepticism towards the government’s immediate commitment to purchasing Bitcoin. This hesitation is further accentuated by the recent wave of U.S. trade tariffs, which are causing broader market uncertainties. Details of the Executive Order and Its Implications The Executive Order mandates the Department of Treasury and the Department of Commerce to develop budget-neutral strategies for acquiring Bitcoin. However, the order notably lacks any allocation of taxpayer funds for purchasing Bitcoin on the open market, which has led to doubts among investors. David Lawant from FalconX pointed out that the immediate drop post-announcement indicates a lack of confidence in the government’s active involvement in acquiring digital assets. Institutional Acceptance and Future Considerations Despite the initial market reactions, some analysts see this Executive Order as a critical step towards institutional acceptance of Bitcoin. The order articulates a framework for a Bitcoin reserve that is separate from the broader Digital Asset Stockpile, which will include altcoins, such as Ethereum.…

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Filed under: News - @ March 9, 2025 11:09 pm