Bitcoin rebounded 1.8% after Trump’s pro-crypto remarks offset a 2% drop triggered by a $216 million corporate sale.
Bitcoin fell more than 2% after a corporate buyer disclosed selling $216 million worth of the cryptocurrency, marking its second sale this year. The move reverses the firm’s prior “never sell” stance and follows a $12.54 billion net loss in Q1 amid a Bitcoin price slump.
Later, Bitcoin recovered 1.8% after Donald Trump stated he had become “a big crypto guy” in response to questions about potential inclusion in tax-advantaged accounts. The crypto market’s volatility often stems from news cycles, regulatory shifts, or high-profile endorsements.
Analysts note cryptocurrencies lack cash flow or industrial utility, amplifying price swings. The rebound highlights sensitivity to political sentiment, though long-term trends remain uncertain.