Bitcoin Slips Again: Cryptocurrency Declines After Spike Post Trump's Crypto Reserve Annoucement

Bitcoin, the largest cryptocurrency in the world, declined after a major spike in the recent trading sessions. The virtual currency has once again dipped under the milestone mark of USD 90,000.

Bitcoin Slips Again

This came to pass after a rise in its prospects, following a rise in the value of the majority of cryptocurrencies, including Bitcoin, Ether, Solana and Ripple.

As per recent information available, the value of Bitcoin, at the time of writing, declined by a cumulative 2.23 per cent or USD 1,917.86.

This took the overall value of the Bitcoin to under the USD 90,000 mark. At the time of writing, the value of Bitcoin stood at USD 84,260.73.

Trump's Strategic Reserve

This comes to pass after Donald Trump announced an executive order for creating a Crypto Strategic Reserve. This scheme will include the likes of Bitcoin, Ether and others.

In his post on Truth Social, Trump said, "A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!"

Post this, all the major cryptocurrencies, including Ether, Bitcoin, Solana and Ripple rose in value.

Ether or Ethereum was no different. The value of the second largest cryptocurrency lost a total of 2.11 per cent or USD 45.26 in its value. This took the overall value of the coin to USD 2,102.90.

These developments have come to pass at a time when Trump's tariff threats have pushed the larger markets into a greater lull, with the US equity markets including Dow Jones, Nasdaq, and S&P 500, dropping in value. This was followed by a decline in the prospects of the Asian markets as well.