The crypto market extended its recent decline overnight, as investors retreated from virtually every type of risk, with Bitcoin testing its lowest level since November as economic concerns overshadowed a wave of pro-crypto announcements from President Trump. Trump’s crypto-friendly stance—including an order to create a U.S. Bitcoin reserve and a separate stockpile of other tokens—along with a high-profile summit with industry executives in Washington on Friday, has done little to lift market sentiment. While the administration pledged to fund the reserve with crypto seized in legal proceedings, the lack of fresh capital commitments disappointed investors who adopted a “cash is king” approach on Monday.
- We don’t invest in Bitcoin, but technically, the move below $80,000 is creating a high-risk buying opportunity—a potentially bullish signal for stocks amid the current weakness
MM is cautiously bullish toward Bitcoin below $US80,000
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