BTC/USD: Bitcoin Struggles to Take Off as Trump Hype Has Turned into Bearish Swipe

Orange coin is down 23% from its record high, meeting what finance books call a bear market. Also, what’s up with Ether? 🤔 Bitcoin Struggles Near $83,000Bitcoin prices were languishing near $83,000 a pop Monday morning as exhausted and worn out traders had virtually no enthusiasm to make any big-ticket purchases. The hype around Trump’s presidential promises has all but faded and instead a sense of gloom has settled. The OG cryptocurrency is now down 23% from its a pop hit in December. In other words, that’s a bear market, meeting the standard definition of at least a 20% drop from a recent high. 🛠️ Trump’s Disappointing Crypto CrewDigital asset enthusiasts were left disappointed in the new administration’s lack of definitive policies in favor of the volatile industry. Instead, the White House’s AI and crypto czar David Sacks chose to during the first crypto gala instead of laying out actual steps to progress. It’s not a done deal yet — Trump’s crypto working group is still expected to present its framework for crypto regulations that would propel the industry forward and open it up to new business and new users. 👀 Charts and Prices: What to WatchNow let’s talk charts and prices — the recent leg down took Bitcoin under the 200-day moving average. That’s your sign to be cautious of more downward pressures. A slide under that indicator could mean that the asset has entered a long-term downtrend and could be vulnerable to surprise bearish attacks. Ethereum , the second-largest token, tumbled under $1,900 earlier today and is now down more than 55% from its December peak of $4,100. XRP () has been pummeled to levels near $2.20 to $2.30 and Solana has nosedived under $130 a coin.