No Movement for Bitcoin After Latest Eric Trump Plug

#BTC #ETH #GT
#Market Pullback: Which Coins to Watch?

Donald Trump’s son is back shilling crypto assets, but this time, there was no reaction on spot markets.

Feels like a great time to enter BTC!” exclaimed Eric Trump on X on Jan. 6.

The post followed a similar one on Feb. 3 when he said it was a “great time to add ETH,” resulting in a double-digit recovery for the asset. However, there was little reaction on spot markets for BTC, which remains sluggish at $98,000.

Bitcoin fell to an intraday low of $96,200, culminating in a 7% decline over the past week. It was trading at around $98,200 during the Thursday morning Asian session, having weakened over the past 12 hours.

The asset showed promise with a strong recovery following the suspension of Trump’s trade tariffs when it topped $102,000, but those gains have been eroded over the past couple of days.

Bitcoin Recovery Falters

There has been massive fundamental momentum surrounding crypto over the past few weeks, yet BTC is still down 10% from its all-time high and is still susceptible to volatile market crashes, as seen on Feb. 2 when it dumped 8%.

Bitcoin has been around for 12 years, and nobody has ever hacked it, which makes it an “excellent store of value,” said White House crypto czar David Sacks on CNBC. In actuality, it has been around for longer than 12 years

Crypto Markets Sink Despite Bullish Week
Despite the bullish news,

such as the SEC downsizing its crypto enforcement division, Trump approving a sovereign wealth fund, and the establishment of a pro-crypto task force in America, markets have still retreated.

Total market capitalization was down 1.4% on the day at $3.34 trillion at the time of writing. Ethereum had made minor progress in reclaiming $2,800, but most of the altcoins were in red again.

There were larger losses for XRP, SUI, and Hedera (HBAR), while Litecoin (LTC) notched a minor gain.