Following US President Donald Trump’s comments regarding the potential establishment of a national cryptocurrency reserve, bitcoin and related digital assets experienced a significant decline amidst fears that the initiative might not materialize.
“Everything is being sold off,” stated Forexlive manager Adam Button, indicating: “A process of de-risking is currently taking place” among cryptocurrency investors.
As of late Monday, bitcoin had fallen by 9.47 percent, priced at US$85,321.69 each. This reflects a total valuation exceeding one trillion dollars within the broader cryptocurrency market.
The second-largest digital currency, ether, saw its value decline by more than 15 percent.
Other prominent cryptocurrencies, including XRP, Cardano, and Solana, dropped by nearly 20 percent.
