Bitcoin (BTC) Prices Dive, Then Jump, as Trump’s Speech Reveals Strategic Asset Plans

Trump unveiled plans to make a “strategic national bitcoin stockpile” if elected, which was in line with the market expectations heading into the speech.

In the lead-up to Trump’s comments, the digital asset rose above $69,000 on Saturday. The price fell to as low as $66,700 before jumping back over $68,000, data from CoinGecko shows, as traders digested the speech. The broader market index, CoinDesk20, followed the same pattern.

Nearly $24 million in longs, or bets on higher prices, were liquidated during the speech, which may have contributed to the price decline.