Bitcoin slips further
Bitcoin was trading at $89,000 as Wall Street opened on February 25, a stark fall from its $106,000 level at Trump’s inauguration. A disappointing consumer confidence report only added fuel to the fire.Still, Bitcoin remains well above its pre-election levels, and optimists see opportunity in the dip. “Buy the dips!!!” posted Eric Trump on X, replacing ‘B’ with Bitcoin’s symbol.
Also Read: Bitcoin slides again? Top cryptocurrency again sees major dip, now down almost 20% from Trump’s Inauguration Day spike
Regulatory hopes
While Trump and crypto-friendly lawmakers promise a “golden age” of regulations, market uncertainty lingers. The US Securities and Exchange Commission is softening its stance on key players like Coinbase and Robinhood, but major setbacks continue to haunt the industry.
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Massive hack hits Bybit
One of the biggest crypto token thefts of all time has also contributed to Bitcoin’s sharp decline, creating a void in the US crypto market. A cyberattack rocked the Dubai-based exchange Bybit, stealing $1.5 billion. Cybersecurity experts point fingers at North Korea, notorious for past crypto heists.
Milei’s meme coin
Argentine President Javier Milei is under fire for endorsing meme coin Libra, which soared and crashed after his support. He denies wrongdoing, but scrutiny remains.
Meme coins are risky bets, often skyrocketing before vanishing. Libra developer Hayden Davis called them a “rigged game,” benefiting insiders. Davis also helped launch Melania Trump’s meme coin, which plunged from $13 to 90 cents.
Solana takes a hit
Solana, a key player in meme coins, has lost nearly 50% of its value since Trump’s inauguration. With volatility high, all eyes are now on Washington and Wall Street for the next crypto twist.