Bitcoin sank below $100 thousand: the market reacts to the initiatives of the White House

On Monday, the cost of bitcoin dropped below the $100,000 mark for the first time in a week, despite the beginning of the presidential term of Donald Trump, known for his support of cryptocurrencies. 

The adjustment of the bitcoin exchange rate occurred against the background of an order by the American president to create a special working group designed to advise the White House on issues related to the regulation of digital assets. 

According to the instruction, a team of experts should develop recommendations for creating a regulatory framework for the cryptocurrency market in the United States within six months, as well as analyze the possibility of introducing a national crypto reserve. However, the document did not mention any intentions to create a reserve in bitcoins.

After a number of favorable events, including regulatory support for cryptocurrencies, the launch of new ETF products, and government initiatives, experts note the beginning of market stabilization.  

At Monday morning's trading, the cost of bitcoin reached a low of $99,694.7 per token, but by noon it had risen to $99,291.