Bitcoin Price Struggles Below $100K but These Altcoins Outperform (Market Watch)

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#Market Pullback: Which Coins to Watch?#

Bitcoin’s price is struggling below $100K as some of the altcoins are taking off.

After recovering above the pivotal psychological and, to some extent – technical level of $100,000, Bitcoin’s price tumbled yesterday. The buyers were unable to defend this point, allowing the bears to take control and push it down to where it currently trades below $98,000. This reflects a decrease of around 1.4% over the past 24 hours.
That said, there’s a clear reason for the decline. The drop coincided with the press conference held by the US crypto and AI czar under Trump’s administration – David Sacks. Speaking for the first time since he was elected, Sacks shed some light on their future plans concerning crypto, and it appears that investors were disappointed. Many expected the confirmation of a Bitcoin-only strategic reserve, while the politicians said they are currently exploring both options – a single-asset reserve and a “digital asset” stockpile- as President Trump has tasked them to explore the feasibility of both.

Moreover, Sacks said their very first priority would be on regulating stablecoins and that he expects laws to pass Congress in six months.
Politics aside, Bitcoin’s dominance – the metric used to gauge its share relative to that of the rest of the market – is currently at a 4-year high, standing tall at 58%.