BTC/USD: Bitcoin Seeks Rebound After Painful Week Wipes 15% Despite Crypto Summit

Digital asset enthusiasts weren’t enthusiastic about the first-ever White House crypto summit. What happened there? 📉 Bitcoin Down to $80,000Bitcoin prices were struggling to pick up the pace Monday morning after a turbulent week washed out as much as 15% from the OG coin. Earlier today, a single Bitcoin was going for about $82,000, up from a session low of $80,000, as traders continued to sell off the risk asset. Not even the first-ever White House crypto summit was able to churn out a gain. On Friday, the Trump administration brought top executives so David Sacks, White House AI and crypto czar, could lay out the framework for growth. 📊 Expectations vs RealityThe crypto world was left disappointed as what was said was mostly a nothing burger. Expectations: let’s wave away all regulatory hurdles and open up the space for warm and friendly guardrails to allow businesses and consumers more freedom of participation. Reality: “Thank you Mr. President, we’re all here because of your leadership, your vision and your generosity,” Sacks said. No decisions or any real revelations were made during the event, attended by Coinbase CEO Brian Armstrong and Strategy boss Michael Saylor, among others. 😨 Ether Slips Through $2,000Elsewhere in the crypto space, Ethereum fell through $2,000 a piece early Monday. It’s the lowest point for the second-largest coin since November 2023. In other words, all those who bought in during 2024 are now holding losing positions. The entire market cap of digital assets has come down to $2.7 trillion. What to watch for this week? It’s a packed five-day stretch of economic news likely to shake up the crypto space. The thunder hits Wednesday with the US inflation data for February — markets eyeball price growth of 2.9%.