Bitcoin falls even after Trump officially establishes U.S. bitcoin reserve

"Although the price has partially recovered, the lack of new demand and uncertainty about future government actions are preventing a significant rally, with prices likely to stabilize in the near to medium term unless a new catalyst emerges," said Rachel Lin, CEO co-founder of decentralized exchange SynFutures. Ether , XRP , Solana's SOL and Cardano's ADA , were also trading off their lows. Trump had previously named these tokens in a social media post teasing details of the "crypto reserve" on Sunday, but they were not specifically named in Thursday's executive order . The price of bitcoin fell 2% to about $87,000, according to Coin Metrics. Shortly after the news of the bitcoin reserve broke Thursday night, it dropped about 5%. The reserve will include coins already owned by the government, and the order did not specify a buying schedule or strategy for bitcoin, disappointing some in the market who'd hoped for a more aggressive plan. White House crypto and AI czar David Sacks det ... Read full article.