- Bitcoin experienced a 2.35% decline over the weekend but rebounded with a 4.00% increase on Monday.
- The weekly charts show Bitcoin up 4.03%, maintaining its value above $90,000.
- Trump’s pro-crypto stance is boosting digital assets, with potential plans for a U.S. Bitcoin reserve.
The World’s largest cryptocurrency has seen its first 2-day retraction since the Trump election win on November 5th. During the weekend, Bitcoin went down from $91,035 on Saturday, to $88,953 at its lowest point on Sunday, November 17. During that timeframe, BTC saw a 2.35% decline.
However, the currency rebounded as soon as Monday came. Today, November 18, Bitcoin saw a 4.00% increase in value, currently trading at $91,305. Over the past 24 hours, $BTC has continued trading bullish at a 2.24% increase in value.
The weekly charts reveal an even more optimistic scenario. Up 4.03% over the past seven days – Bitcoin is showing incredible resilience as buyers fight back to not lose the +$90,000 margin.
Since the Republican wipeout on the election, digital assets have begun trading bullish in anticipation of a more crypto-friendly American government in 2025. During the campaign, Donald Trump talked a lot about how he envisions using cryptocurrencies to help strengthen the U.S. economy.
He talked about the use of stablecoins to solidify the dollar’s dominance in international trade. Recently, Trump also spoke about the potential of the United States investing in a Bitcoin reserve.
The groundbreaking possibility of America having a reserve in BTC is expected to be approved within 100 days of office, according to Senator Cynthia Lummis.
It will certainly be interesting to see how the Trump presidency will reflect on the cryptocurrency market in 2025. While his pro-crypto initiatives are considered a great boost to digital assets – many are unsure how his other policies will reflect on the state of the economy, particularly the recent plan from the Federal Reserve to reduce interest rates.
