This Week in Crypto: Prominent Tokens Trim Gains

Last week’s promising rally has come to a halt, as the majority of the top 10 cryptocurrencies by market capitalization consolidated below key levels. Although President Joe Biden’s executive order on crypto temporarily moved the needle higher for markets, momentum quickly reversed, erasing earlier gains. BTC Consolidates Below $40K Again Although BTC’s value jumped by almost 8.5% after a “now-deleted” post on the White House’s long-awaited executive order on cryptocurrency, Bitcoin has been unable to hang onto gains. Since then, Bitcoin has fallen back below $40,000 and is currently consolidating just above $39,000 -- marking a dip of almost 10% this week.