Overview
- Paul Krugman argues Bitcoin’s decline reflects waning presidential clout after a run-up he links to pro-crypto policies and Trump-family interests.
- The White House rejected that framing, with spokesperson Kush Desai saying it is wrong to attribute price moves to non-economic factors.
- Bitcoin is changing hands around $87,000 to $90,000 after a low near $81,000 last week, down from a record close to $126,000 in October.
- Cited supportive signals include an executive order permitting retirement crypto investments and the presidential pardon of Binance founder Changpeng Zhao.
- Crypto markets have reacted to presidential rhetoric and actions, including an October 10 episode with roughly $19 billion in liquidations after a threat against China.