Crypto Market in Red, Bitcoin Price Less Than UsD 92,400, Eether Declines 3 Percent, Donald Trump

In the US, the decisions related to the tariffs of President Donald Trump and the trade war with China are affecting the Crypto market. The biggest cryptocurrency bitcoin in terms of market capitalization was nearly 1.80 percent declined on Thursday. Apart from this, many other cryptocurrency prices have also decreased.

International Crypto Exchange after this report is published Binance But Bitcoin’s price was around $ 92,390. The second largest cryptocurrency Ether had a loss of about three percent. The Ether’s price was trading at $ 1,742. The price of XRP declined by six percent to about $ 2.14. Another falling cryptocurrency included Solana, BNB, Stellar and Hedera. In the last one day, Crypto’s market capitalization was about 2.9 million million dollars with a loss of about one percent. Bitcoin’s share in this market is reduced to more than 63 percent.

The resistance for bitcoin is $ 96,300 and support at around $ 91,700. Increasing inflow in bitcoin spot ETFs can accelerate this most popular cryptocurrency. Employment data released in the US may affect this market in short-term.

Recently, the Executive Director of the Council of Advisors of the President on the Digital Assets of the White House, BO HINES, said that the US government is considering ways to use its gold reserve for holding bitcoin. He had said, “If we redeem the profit on Gold Reserve, it will be a good way to buy bitcoin.” Hines also mentioned the Bitcoin Act introduced by Senator Cynthia Lummis. It was suggested to buy about 1 million bitcoins. This will be about five percent of the total supply of bitcoin. Trump signed the order to create a strategic reserve of bitcoin. The Strategic Bitcoin Reserve of the US will include bitcoins seized by the government. In some countries, regulations are being made for this segment. This will prevent scam cases in this market.