🟨 Bitcoin (BTC) price volatility surged dramatically after former U.S. President Donald Trump’s speech at the Bitcoin 2024 conference in Nashville. Trump announced his intention to create a “strategic national Bitcoin reserve” if elected, which triggered a strong market reaction.
🟨 Ahead of Trump’s comments, the digital asset rose above $69,000 on Saturday. The price then dropped to $66,700 before jumping back above $68,000, according to CoinGecko data, as traders processed the speech.
🟨 During the speech, long positions (bets on higher prices) worth around $24 million were liquidated, and the asset’s value experienced sharp fluctuations, confirming the high sensitivity of the cryptocurrency market to political statements.