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Bitcoin and the broader crypto market continue to experience volatility as the asset failed to remain near its high reached earlier in the year.
The cryptocurrency recorded significant price movements for two weeks in a row as sentiment continued to shift.
While talk of a crypto reserve in the US could support the market, the lack of details on the proposal could limit the upside potential.
However, new developments on the matter could help the market rebound.
In addition, the White House’s upcoming crypto summit could help improve regulatory guidance, bringing more stability to the market. However, a lack of direction could deepen uncertainty and volatility. The involvement of key Trump administration figures could signal increasing political backing for the sector.
Meanwhile, market participants await key macroeconomic data that could affect market sentiment. Positive developments could foster a risk-on sentiment and support Bitcoin.
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