Trump’s Executive Order on Cryptocurrency Sparks Modest Market Reaction
- President Donald Trump signed an executive order to enhance U.S. leadership in cryptocurrency and blockchain.
- The order establishes a working group to propose a digital asset oversight framework within 180 days.
- Bitcoin saw a 3% increase, briefly surpassing $106,000 before stabilizing around $105,000.
- Ethereum gained 6%, while Solana and XRP rose by 8% and 3%, respectively.
- The market remains cautious due to the lack of concrete measures for a Strategic Bitcoin Reserve.
The executive order aims to strengthen U.S. cryptocurrency leadership but has led to only modest market gains, with analysts noting the absence of specific actions regarding a potential national digital asset reserve.
Source (2.6)https://www.theblock.co/post/336833/bitcoin-makes-muted-move-after-trumps-new-crypto-executive-order-lacks-concrete-strategic-reserve-plan
