Bitcoin Slips Amid Trade Uncertainty; Trump Backs Crypto
Bitcoin Slips Amid Trade Uncertainty
Bitcoin fell 1.3% to $94,350 on Monday, as holiday-thinned trading volumes and uncertainty over U.S.-China trade talks kept the cryptocurrency rangebound between $92,000 and $97,000. Traders are seeking clearer signals on whether trade negotiations will resume, following U.S. President Donald Trump’s comments that no immediate talks with Chinese President Xi Jinping are planned.
Trump Reiterates Support for Crypto
Trump expressed strong support for crypto, emphasizing its importance to prevent China from dominating the industry, similar to AI and other sectors. While Trump has maintained a pro-crypto stance, his policies have yet to generate significant optimism in the crypto community.
Strategy Adds to Bitcoin Holdings
Michael Saylor’s Strategy purchased an additional 1,895 bitcoins last week, spending $180 million. The company now holds 555,450 bitcoins, valued at $52.2 billion, representing an unrealized profit of $14.2 billion. This positions Strategy as one of the largest institutional holders of Bitcoin.
Broader Crypto Market Drifts Lower
Altcoins also saw declines, with Ether dropping 1.7% to $1,796.10 and XRP falling 2.2% to $2.13. Solana, Cardano, and Polygon also slid, while meme tokens like Dogecoin shed 2%. $TRUMP token rose 0.5% after recent losses.
The crypto market remains influenced by broader economic sentiment, with Trump’s tariff policies indirectly impacting risk appetite and speculative assets like crypto.
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