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Bitcoin extended its losses on Monday, falling 4.2% to $82,417.7 by 01:39 GMT and nearing a four-month low, as investor enthusiasm waned over U.S. President Donald Trump’s formation of a strategic crypto reserve and the recent White House crypto summit. The digital asset remained above the $80,000 level but continued to track broader risk-off sentiment amid concerns about a slowing U.S. economy and the prospect of additional trade tariffs.
Trump last week signed an executive order approving the creation of a national Bitcoin reserve—along with a stockpile comprising Ether, XRP, Solana, and Cardano. However, the order does not call for any fresh crypto purchases using taxpayer funds. Instead, it mandates that the reserve be built solely from crypto seized by the government, primarily through the Department of Justice. Although Trump instructed his trade and commerce secretaries to explore “budget-neutral” strategies for acquiring Bitcoin, the lack of clear mechanisms has dampened market optimism, leaving crypto proponents disappointed by the limited market impact.
The White House crypto summit on Friday, where Trump was expected to elaborate on his regulatory plans for digital assets, failed to provide substantive details beyond general expressions of optimism. In the meantime, broader crypto markets also retreated, tracking losses in risk-sensitive assets as traders grappled with uncertainty over U.S. economic growth and Trump’s aggressive tariff agenda.
Ethereum, the world’s second-largest cryptocurrency, fell 5.4% to $2,067.28, briefly dipping below $2,000 and reaching its weakest level since late 2021. XRP declined 5.9% to $2,195.4, Solana dropped 7.9%, and Cardano slid 8.4%. Among meme tokens, Dogecoin lost 8.8%, while the $TRUMP token fell 8.2% to record lows.
Investor focus is now shifting to upcoming U.S. inflation data and a mildly disappointing nonfarm payrolls reading for February, as market participants seek further cues on the Federal Reserve’s interest rate outlook and the broader economic environment.
