The flagship cryptocurrency Bitcoin (BTC), which scaled a record high of $111,970.17 last week, plunged to $104,684.72, its lowest level in seven days, on Friday, May 30
Appearing alongside his brother Donald Trump Jr., Eric made a bullish forecast, predicting that the value of Bitcoin would skyrocket in the near future
Market analysts called the current consolidation healthy and said it indicates investors are waiting for clearer breakout or breakdown signals
Market analysts believe that Bitcoin has recovered after macro concerns about US-European trade tariffs made it retest support around $106,500
From the technical perspective, analysts believe that Bitcoin now faces resistance at $112,600, with key support moving to $108,700
Market analysts attribute the rally to a confluence of macroeconomic tailwinds, including easing geopolitical tensions, an improved regulatory environment, and sustained institutional interest
Bitcoin is currently 1.42 per cent lower from its all-time high of $109,114.88, scaled on January 20 of this year
Bitcoin (BTC), despite reclaiming the $107,068 level buoyed by favorable sentiments, has struggled to hold above it and slipped below the $104,000 mark
Among other altcoins, Cardano (ADA) was down 4.18 per cent, Solana (SOL) declined 4.08 per cent, Ripple (XRP) fell 2.18 per cent, and Binance Coin (BNB) dropped 1.7 per cent
By midday, bitcoin was trading at $101,402.19, a 4.8 per cent gain on the day. The world's biggest cryptocurrency has clawed its way back into positive territory for the year
Following the announcement, the flagship cryptocurrency Bitcoin reclaimed the $99,400 level, just 600 points shy of the $100,000 mark
the US has unveiled a draft crypto bill aimed at redefining digital asset oversight and strengthening investor protection, stating, 'The golden age of digital assets is here.'
Bitcoin recently recorded its highest number of active addresses in six months, with over 925,000 addresses active in a single day
According to CoinGlass data, a break above the $95,000 mark could trigger liquidations of nearly $700 million in short positions, easing selling pressure and setting the stage for the next leg up
This price stability, even as rate cuts are taken off the table for May, Riya Sehgal, research analyst at Delta Exchange, said, underscores crypto's evolving market maturity and its growing appeal
Investors' confidence, analysts said, stands strong as the White House plans to establish the Bitcoin Strategic Reserve using alternative government revenue sources
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Following a strong recovery, the flagship cryptocurrency, Bitcoin, which had briefly touched $82,300, is stabilising around $80,000 as markets absorb softer-than-expected US CPI data
The Dollar Index (DXY) slipped to 103, diverging from Treasury yields-a trend that could support Bitcoin's near-term price action
Bitcoin has traded in the range of $74,436.68 to $81,119.06 in the last 24 hours