Caroline Woods brings you the biggest news of the day, including why Bitcoin is sinking lower.
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00:00The world's largest cryptocurrency has continued its slide, with Bitcoin dropping into the low
00:05$80,000s. Bitcoin was hovering around $96,000 just a month ago, but has seen a steep decline,
00:11even with a new crypto executive order signed by President Trump. The new mandate was put
00:16into place to create a U.S. strategic Bitcoin reserve and crypto asset stockpile for the U.S.
00:22According to the order, the reserve will be funded by coins that have been seized in criminal
00:26and civil forfeiture cases. However, the U.S. government has no plans to purchase more of the
00:32cryptocurrency, with Trump-appointed crypto czar David Sachs saying the U.S. is looking for budget
00:37neutral strategies for acquiring additional Bitcoin, provided that those strategies have
00:41no incremental costs on American taxpayers. Bitcoin peaked at a high of more than $106,000
00:48in December of 2024, and is still up roughly $30,000 a coin over the last six months.
00:54Investors are now closely eyeing the $82,000 support level.
00:58That'll do it for your daily briefing from the New York Stock Exchange.
01:01I'm Caroline Woods with The Street.