Bitcoin News Today TheBitTimes.com

US President Donald Trump launched an official cryptocurrency, Official Trump (TRUMP), earlier this month. The asset’s price skyrocketed upon launch, climbing into the top 30 projects by market cap. The coin hit an all-time high of $73.43 on Jan. 19, 2025, one day before Trump’s inauguration. The asset has since fallen by nearly 65% from its peak. Also Read: Gold Drops 2% as Dollar Surges: Fed Rate Decision Shakes Markets! Official Trump In The Red Source: Axios TRUMP is currently down 11.2% in the daily charts and 50.8% over the previous week. The dip is likely due to the bearish sentiment that looms over the crypto market. Source: CoinGecko The latest crypto market dip is likely due to larger macroeconomic conditions. The US dollar is picking up steam and investors are putting their funds in safer assets. President Trump announced some bullish news for the crypto industry as soon as he entered office. The announcements have failed to garner much steam in the market. Also R...

The US dollar took the top spot of the currency markets this week , outperforming the Euro and Chinese yuan. The DXY index, which tracks the USD’s performance, shows the currency touching 103.10 on Tuesday’s opening bell. The USD is now at a 10-week high as traders bet on a moderate interest rate cut by the Federal Reserve. Also Read: BRICS Advances ‘Multicurrency System’ To Break US Dollar Dominance The Chinese yuan dipped against the US dollar after China’s weekend stimulus announcements disappointed currency and forex investors. China’s fiscal stimulus briefing received mixed responses as the package from the central bank failed at monetary easing. It also failed to reduce economic inflation and fell short of expectations among the investors’ community. Inflation in China grew 0.4%, while it is on a decline in the US at 2.3%. In addition, production in China dipped 2.8%, marking the 24th consecutive month of decline. All these developments bolstered the...