Bitcoin Price (BTC) Drops Below $87k as Market Gives Back Most of Sunday Advance
Sunday’s Trump bump in crypto has mostly vanished nearly as quickly as it appeared.
In mid-afternoon U.S. action, bitcoin (BTC) is changing hands at $86,700, barely above its level prior to President Trump taking to social media Sunday to tout his plans for coming U.S. crypto reserve.
Ether is now actually beneath its pre-Trump level and at 0.025, the ETH/BTC ratio has touched a new five-year low.
Other tokens touted by Trump as part of the coming crypto reserve — Solana’s (SOL), Ripple’s (XRP) and Cardano’s (ADA) — have given up sizable amounts of their Sunday gains, though remain somewhat higher than prior to the president’s posting.
“Crypto vols are still relatively elevated with both majors still reflecting a Put Skew till…
