Bitcoin initially reached a record high amid rumors of Donald Trump's statement at a New York conference, then sharply declined.
Market Reacts to Rumors
Bitcoin price soared to $87,453 fueled by rumors of a potential announcement by President Donald Trump regarding cryptocurrency taxes. However, none of the rumors materialized. Trump called on Congress to enact clear stablecoin legislation.
Expert Analysis
Experts like Aksel Kibar believe Bitcoin might correct to $73,700. He noted that current price dynamics could influence further price action in the coming months.
Impact of the Fed
One of the factors supporting Bitcoin's rise was Jerome Powell's statement about slowing the Fed's monetary tightening. Arthur Hayes commented this might be the bottom for Bitcoin but warned of potential volatility.
The Bitcoin market remains volatile, responding to political statements and economic news. Experts offer cautious forecasts, evaluating current price fluctuations and Fed statements.
