During Trump's speech, Bitcoin exhibited a V-shaped movement. At the beginning of the speech, Bitcoin experienced a short-term drop, falling below $67,000. However, by the end of the speech, when Trump announced that Bitcoin would be designated as a strategic reserve asset, Bitcoin surged, not only recovering all its losses but also surpassing $69,000. Subsequently, Bitcoin briefly broke through $70,000.
Trump's announcement to designate Bitcoin as a strategic reserve asset was interpreted by the market as a positive signal, indicating that Bitcoin could occupy a more significant position in the broader financial system.
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