Bitcoin experienced a 4.4% decline, settling at $99,000, as it faced pressure from global market turbulence. This drop was driven by uncertainty surrounding U.S. President Donald Trump’s policies on cryptocurrencies, as he announced plans to regulate the sector, though lacking clarity. Additionally, tensions related to new tariff impositions weighed on investor sentiment.
Asian markets faced additional pressure following the launch of an advanced artificial intelligence technology by China’s “DeepSeek,” which promised strong performance at a lower cost compared to competitors. This development raised concerns among technology investors, which subsequently impacted digital assets, causing selling pressure to shift from equities to cryptocurrencies.
As for the “$TRUMP” cryptocurrency launched by the U.S. President, it was among the worst performers, losing nearly 60% of its value since its launch. This rapid decline sparked questions about the ethics of the President leveraging his influence on cryptocurrency markets. The sharp volatility in this token further exacerbated pressure on the sector as a whole.
The lack of clear mention of Bitcoin in Trump’s recent executive orders raised concerns over the U.S. administration’s commitment to supporting the sector. Plans for establishing a national Bitcoin reserve are likely to face legislative hurdles. Amid these developments, other cryptocurrencies such as Ethereum and Solana also saw declines, indicating that the market remains under significant pressure as it awaits greater clarity on regulatory and economic policies.
