Bitcoin price thaws after Trump statement — Trader says ‘stay nimble and cashed up’

Bitcoin holds the steady near $85,000 as the Coinbase Premium returns and positive comments from the Fed and President Trump add to traders' confidence.

Bitcoin (BTC) price rallied to an intraday high of $87,453 in the early hours of the NY trading session but quickly retraced its gains to $83,655 shortly after US President Donald Trump made a video appearance at the Digital Asset Summit in New York.

Prior to the video statement, rumors circulated on X, suggesting that President Trump would announce zero capital gains taxes on certain cryptocurrencies or issue a favorable statement about the US strategic Bitcoin reserve. 

To the disappointment of some traders, neither rumor proved to be true, and Trump simply doubled down on his promise not to sell Bitcoin that has been confiscated by the government, and he called for Congress to enact clear stablecoin legislation as soon as possible.

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