Bitcoin

<p>The price of BTC experienced a significant rebound, reaching $67,000, ahead of Donald Trump’s speech at the Bitcoin Conference in Nashville. This sudden rise reflects investors’ anticipation of potential statements by the former US president on the future of crypto.</p> 
<h2 id="h-un-marche-en-effervescence-avant-l-intervention-de-trump">A booming market before Trump’s intervention</h2> 
<p>Bitcoin erased its recent losses which caused a wave of <a href="https://www.cointribune.com/en/crypto-the-market-shaken-by-significant-liquidations/" target="_blank" rel="noreferrer noopener">liquidations</a>, recording a rise of more than 4% in 24 hours. This rebound occurs in a particular context, as traders avoid short positions before the weekend. </p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<p>Markus Thielen, CEO of 10x Research, <a href="https://cointelegraph.com/news/bitcoin-price-rebounds-united-states-donald-trump-conference-nashville-btc?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound" target="_blank" rel="noreferrer noopener">explains</a>: “<em>Nobody wants to short Bitcoin over the weekend</em>.” This caution is explained by the high expectations surrounding Trump’s speech.</p> 
<p>Indeed, rumors are circulating about a possible announcement by the former president regarding a strategic Bitcoin reserve. This prospect has led many investors to take a bullish position, fearing to miss a potential <a href="https://www.cointribune.com/en/crypto-the-job-market-is-heating-up-with-the-rise-of-bitcoin/" target="_blank" rel="noreferrer noopener">price surge</a>. </p> 
<p>CoinGlass reports that if BTC falls back to $65,000, it would threaten long positions totaling $1.11 billion.</p> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noreferrer noopener">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">This link uses an affiliate program.</a> 
</div> 
<h2 id="h-l-impact-potentiel-des-declarations-de-trump-sur-le-marche-crypto">The potential impact of Trump’s statements on the crypto market</h2> 
<p>Trump’s intervention in Nashville is considered a major turning point for Bitcoin. Market participants are particularly attentive to the former president’s intentions regarding the balance between gold and Bitcoin in US reserves.</p> 
<p>Currently, the <a href="https://www.cointribune.com/en/the-us-treasury-wants-to-eradicate-the-crypto-threat/" target="_blank" rel="noreferrer noopener">US Treasury</a> holds gold reserves valued at $600 billion, while the government has seized bitcoins worth $15 billion. Thielen suggests that Trump could express his intention to increase the share of Bitcoin to “<em>around 10% of gold reserves, or even more</em>.”</p> 
<p>Bryan Courchesne, an asset manager, believes that adopting Bitcoin as a reserve asset would be complex, but not impossible. He notes the possibility of a transfer of seized bitcoins from the Department of Justice to the Treasury, thus paving the way for long-term accumulation of this rare asset.</p> 
<p>In summary, the <a href="https://www.cointribune.com/en/trump-in-nashville-for-bitcoin-conference-2024-a-decisive-crypto-turn/" target="_blank" rel="noreferrer noopener">Trump speech in Nashville</a> could therefore mark a decisive turning point for the future of Bitcoin, significantly influencing its price and perception by institutional investors. The anticipation is palpable in the markets, which remain on tenterhooks for the former US president’s statements.</p>

Bitcoin Jumps to $67,000 Under Trump’s Shadow

Table of Contents

Cointribune EN

Other articles published on Jul 26, 2024

Emojis No Longer Appear with Bitcoin and Crypto Hashtags on X

Dogizen Launch Imminent, Challenging Hamster Kombat and Catizen (26 Jul)

Ethereum (ETH) Prediction for July 26

Bitcoin, Ethereum, Dogecoin Zoom Higher As Bitcoin Conference Awaits Donald Trump's Keynote Speech

Celestia’s New Rival Launches in Mainnet: What is Avail DA?

JITO Foundation Releases Code for Jito Restaking on Solana

Join our free newsletter for daily crypto updates!