Recent statements from former U.S. President Donald Trump regarding potential sanctions against Russia have sparked interest in the cryptocurrency market; however, the market remains stable amid the rise in Bitcoin price.
Clarification of Trump's Threat
U.S. Commerce Secretary Gina Raimondo confirmed that Trump's threat was related to imposing secondary sanctions on third-party transactions with Russia. This statement clarified earlier reports regarding tariffs that puzzled the market.
Stability of the Cryptocurrency Market
Despite the threats, the cryptocurrency market has shown minimal reaction. The price of cryptocurrencies, including Bitcoin, remains stable due to institutional investments and technological advancements.
Rise in Bitcoin Price
Bitcoin's price surged to $120,000, reflecting growing institutional investor confidence. Bitcoin's market cap reached $2.39 trillion, maintaining a dominance of 63.56%.
Trump's threats have not significantly impacted the cryptocurrency market, which continues to develop driven by institutional investments and technical enhancements.
