Bitcoin and Ethereum go back after statements of the ‘tsar’ of white house cryptocurrencies. What he said and why he worried investors.
The cryptocurrency market faces a new bearish turn, with Bitcoin (BTC) falls 0.4% in the last 24 hours, according to Binance, although it maintains a price higher than US $ 98,000. Ethereum (ETH) yields 0.6% Au $ S2.700. The Altcoins follow a similar trend, with generalized falls, of up to 5.6%of the hand of Hedera, Sui (-4.8%) and Shiba Inu (-4.4%).
This setback seems to coincide with a David Sacks’s press conference, the “Cryptocurrency Tsar and Artificial Intelligence” of the White Housetogether with key figures of the Senate and the House of Representatives. Although analysts expected news about the strategic reserve of Bitcoin, Sacks barely mentioned a working group on cryptocurrencies, without offering significant details. Instead, he focused on the regulation of Stablecoins, highlighting his potential to expand the domain of the dollar internationally.
The Stablecoins market, valued at 227,000 million dollars, was another topic of discussion. Sacks stressed that Stablecoins could generate a new demand for US Treasury Bonds, helping to reduce long -term interest rates. This uncertainty, Together with the tension in the commercial war between the United States and China, it keeps Bitcoin in a consolidation phase between US $ 90,000 and US $100,000.
Despite the recent stumbling blocks, some analysts remain optimistic, suggesting that Bitcoin could rebound in the future, with the consensus in which the cryptocurrency will continue to gain ground as the US government plans advance around cryptoactive government.
Source: Ambito
