The Bitcoin Conference in Nashville had all eyes in the crypto community, as Donald Trump was set to speak about BTC, causing significant price volatility for the asset. On a daily scale, most cryptocurrencies experienced slight losses, with TON and DOGE leading the larger-cap ones. Bitcoin had a rollercoaster week, dropping $2,000 after Biden’s announcement and then surging to over $68,400. However, it gradually lost value and experienced a substantial decline on Thursday. Despite this, Bitcoin rallied on Friday and Saturday, reaching $68,000 in anticipation of Trump’s speech.
During Trump’s speech, Bitcoin spiked to over $69,300, but quickly dropped to $66,500, then recovered to $69,000 and settled at $67,500. Its market cap is now $1.330 trillion, with a dominance over alts at 52.9% on CG. Alternative coins also saw losses, with ETH and BNB down 1.5% to $3,225 and $578, respectively. SOL, ADA, SHIB, DOT, and LINK retraced by similar percentages, while Dogecoin, Toncoin, and Avalanche declined by 3-4%. NEAR, WIF, APT, and RNDR were down by up to 6%.
XRP, TRX, and BCH were among the few alts in the green, with Bitcoin Cash surging 3.5%. The total crypto market cap dropped by $30 billion overnight, now below $2.520 trillion on CG. Overall, the recent events at the Bitcoin Conference and the impact of Trump’s speech have caused significant price fluctuations in the crypto market, with Bitcoin leading the way in terms of volatility. Investors are closely watching these developments to understand the future direction of the market and plan their investment strategies accordingly.
