Bitcoin Falls Below $40,000 Trimming The Gains From US Crypto Order

On Thursday, the cryptocurrency market experienced another roller-coaster day, with some coins declining. One such example is Bitcoin which fell 5.9% to $39,432 when writing these words. The bitcoin market is still bearish, with prices dipping below $40,000 today. This comes after a slew of positive news about US President Joe Biden’s executive order that will likely focus more on the crypto sector. The crypto markets were not looking very promising today, with Bitcoin declining heavily and many other coins dropping as well. For example, Ether, the second-largest cryptocurrency, fell as much as 4.4% to $2,589. Related Reading | TA: Ethereum Trims Gains, What Could Spark A Fresh Increase It’s still too early to tell if this will have any long-term effects on the industry, but the market has seen enough sell-offs already where people might want investments in other cryptocurrencies or even just gold until things calm down again. Bitcoin rose as much as 11% on Wednesday following an executive order from Biden that appears to frame digital assets in a positive light. However, those gains proved fleeting, and traders soon realized the news didn’t live up to their expectations. As a result, Bitcoin is once again trading near its average price over the recent two months ($39,000). The cryptocurrency markets were not immune to the bearish trend that has plagued US stocks over recent weeks. As a result, Bitcoin’s price...