Bitcoin extended its recent run of losses on Monday, falling 4.5% to $78,852.8 by 19:49 GMT. Investor risk sentiment remains weak amid mounting recession fears, even as President Donald Trump’s plans for a national cryptocurrency reserve and a White House crypto summit failed to generate lasting optimism in the market.
Investor sentiment has taken a hit as macroeconomic concerns continue to weigh on risk assets. Recently released U.S. jobs data and other economic indicators have fueled worries that the U.S. economy could be headed for a recession. This has overshadowed any positive momentum from President Trump’s executive orders and his recent White House crypto summit.
Despite the hype surrounding the formation of a national cryptocurrency reserve—including Bitcoin, Ether, XRP, Solana, and Cardano—the announcement failed to spark renewed buying. The reserve is to be constructed from seized crypto assets held mainly by the Department of Justice, with no fresh government purchases planned. As a result, market enthusiasm fizzled, and Bitcoin slid back toward a four-month low.
Using technical tools like Bollinger Bands to gauge market sentiment, analysts observe that Bitcoin is trading near key support levels. The current setup indicates that without a rebound above these levels—particularly near the middle band—further downside is possible. These technical signals, combined with broader economic concerns, add to the bearish outlook for Bitcoin in the near term.
President Trump’s efforts to establish a national cryptocurrency reserve and host a crypto summit initially drove a short-lived rally in digital assets. However, critics argue that the lack of concrete measures—such as defined funding strategies or clear policy frameworks—rendered these moves largely symbolic. Without a definitive plan to buy or hold additional crypto assets, the reserve has not provided the bullish catalyst many had hoped for.
Moreover, in his Fox News interview, Trump refrained from predicting a recession, further adding to market uncertainty. This blend of ambiguous policy direction and cautious economic data has left investors wary of digital assets.
For investors looking to track Bitcoin’s price movements and technical trends amid this uncertainty, consider leveraging these real-time tools:
Crypto Currency Free API
Access live cryptocurrency prices and market cap data to monitor Bitcoin’s performance.
Technical Intraday API
Analyze technical indicators such as Bollinger Bands for insight into Bitcoin’s support and resistance levels.
With Bitcoin sliding back toward a four-month low and broader economic indicators suggesting potential recession risks, investors remain cautious. The anticipated boost from Trump’s national crypto reserve did little to overcome uncertainty, and technical indicators signal that further downside remains a possibility unless a significant rebound occurs. As the market awaits clearer economic signals and more definitive policy guidance, staying informed through reliable, real-time data tools will be crucial for navigating the volatile crypto landscape.
Stay tuned for more insights and market updates as these developments continue to unfold.
