TLDR
- Bitcoin's price sank to $80,000 in a Sunday selloff, nearing the previous low of $78,000 expected for 2025.
- On Sunday, President Trump remarked that his policies might only cause a 'minor disruption' in the short haul.
- Trump clarifies that the newly proposed Bitcoin reserves will be drawn from seized cryptocurrencies, not public funds.
- A recent crypto summit at the White House resulted in little concrete progress on regulation.
- Cryptocurrencies like Ethereum, Solana, XRP, Cardano, and Dogecoin took a nosedive in sync with Bitcoin.
Over the weekend, Bitcoin (BTC) experienced a dramatic drop, reaching $80,000 during Sunday trading. It's a 7% fall in 24 hours, rebounding slightly to $80,700 post drop.
This slide takes Bitcoin close to its anticipated 2025 bottom of $78,000, continuing the trend of weekend volatility familiar to crypto enthusiasts.
As Bitcoin dipped, other digital currencies like Ethereum (ETH), Solana (SOL), and XRP also witnessed similar percentage drops. Meanwhile, Cardano (ADA) and Dogecoin (DOGE) fell even more steeply, by nearly 12%.
During a Sunday Fox News segment, President Donald Trump discussed how his policies might affect the economy. He conceded there may be a 'slight disturbance' from his tariff and spending cut initiatives.
Trump made a comparison between his strategies and China's long-term vision. 'China plans over a century; we split it into quarters,' he remarked. The President stressed his government is drafting a 'future-ready' plan.
TRUMP: 'Some disruptions are possible. Watching the stock market isn't necessarily helpful. China plans for centuries; we focus on quarterly results. Our task is laying groundwork for what's ahead.'
Trump 2.0 is very different.
He’s Volcker-ing™️ himself. pic.twitter.com/OsqmQA7k2H— Geiger Capital (@Geiger_Capital) March 9, 2025
On social media, Trump’s remarks were compared to 'Volckering,' a nod to Paul Volcker, ex-Federal Reserve Chair, who hiked rates in the early '80s, spurring recession but laying groundwork for future prosperity.
Trump’s Crypto Policies Fall Short
Recently, Trump approved an executive order to establish a national Bitcoin reserve. This reserve will also cover assets from four various altcoins. Ethereum , XRP , Solana , and Cardano.
However, this does not involve buying new cryptocurrencies with taxpayer money; rather, the reserve will rely on crypto holdings confiscated by government institutions, notably from the Department of Justice.
Although Trump directed commerce officials to seek 'budget-neutral' methods to acquire Bitcoin, clear guidelines are still absent. The crypto community, expecting bolder actions, found the vague measures underwhelming.
On Friday, the White House gathered cryptocurrency industry leaders. The reserve emerged as a key talking point. Yet, this meeting didn't yield in-depth plans for Trump's digital currency regulations. Bitcoin Throughout his campaign, Trump has endorsed crypto-friendly strategies. Several essential regulatory appointments reflect pro-crypto attitudes.
Early Sunday evening trades indicated that US stock index futures dipped by approximately 0.85% across the board, signaling broader economic uncertainties beyond just the crypto sphere.
The digital currency market seems sensitive to economic challenges, with worries about US growth deceleration and Trump's proposed trade tariffs. Investors are turning to upcoming inflation reports for further economic cues and interest rate guidance.
Even with its recent dip, Bitcoin still sits above the $80,000 threshold. It reached record highs earlier this year but has struggled to keep up that pace in recent weeks.
Bitcoin’s Maisie is a seasoned journalist specializing in Crypto & Financial news, having penned articles for Moneycheck.com, level-up-casino-app.com, Computing.net, and serves as Editor in Chief at Blockfresh.com
