Bitcoin extended losses Thursday, falling 5.7% in less than an hour as investors reacted to President Donald Trump’s executive order establishing a Strategic Bitcoin Reserve.
The decline came after Bitcoin surged above $92,000 earlier in the week on speculation surrounding the initiative.
But the rally has faded as traders take profits and reassess the market impact of the government’s new digital asset policy. Bitcoin has since rebounded slightly to $87,200, CoinGecko data shows.
Ethereum lost 6.1% to $2,100, while Solana and Dogecoin declined 6.8% and 5.8%, respectively. Binance’s BNB dropped 3.6% to $576, while Cardano fell 13.8% to $0.81, leading losses among major tokens.
The executive order, signed Thursday, authorizes the…
Apr 20 2025
