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Cryptocurrency News Articles

American President Donald Trump Has Started Signing Decrees on Cryptocurrencies

Feb 08, 2025 at 04:02 am

American President Donald Trump has started signing decrees on cryptocurrencies, which he promised during the election campaign in the USA.

American President Donald Trump Has Started Signing Decrees on Cryptocurrencies

American President Donald Trump has begun signing decrees on cryptocurrencies, which he promised during the election campaign in the USA. A decree to create a working group on alternative monetary resources has already been signed, according to Reuters, while a decree to create a national reserve in cryptocurrency is being reported by CoinDesk.

Bitcoin (BTC) unexpectedly dropped in price against the backdrop of the news. In particular, the price of the cryptocurrency at 00:02 Moscow time on January 24 was $102,800, losing more than 1.1% in value over the past 24 hours. Within an hour, the price of Bitcoin lost $1,500, according to data from the Binance cryptocurrency exchange.

This news comes after a period of relative calm in the cryptocurrency market, with Bitcoin prices largely fluctuating within a narrow range. However, the recent news appears to have sparked some interest among traders, with some speculating that the price of BTC could rise to new all-time highs in the coming weeks.

Meanwhile, the US Department of Labor has announced that initial jobless claims in the country rose by 19,000 last week to reach a seasonally adjusted total of 213,000. Economists polled by Dow Jones had expected claims to fall to 190,000 from the previous week's revised figure of 194,000.

Continuing jobless claims also increased, rising by 33,400 to reach a total of 1.64 million, compared to expectations of a decrease to 1.6 million. This marks the first time since April that continuing claims have risen for two consecutive weeks.

The news comes as the Federal Reserve prepares to begin raising interest rates in an effort to curb inflation, which could have a knock-on effect on the cryptocurrency market.

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Other articles published on Feb 08, 2025