(Kitco News) – Bitcoin remains trapped in its recent range between $64,000 and $65,000 in early trading on Wednesday even after Republican Presidential candidate Donald Trump issued some of the most forceful pro-crypto statements to date.
Data provided by TradingView shows that after opening the session just above $65,000 overnight, BTC managed a run-up to the $65,700 level shortly after midnight EDT. But the bulls failed to break through, and Bitcoin has trended lower since, falling as low as $64,838.34 shortly after 10:30 am EDT, which is less than $20 off the session low of $64,821.10 set 12 hours earlier.
At the time of writing, Bitcoin last traded at $64,935.93 for a loss of 0.33% on the 24-hour chart.
King Crypto’s recent struggles continue despite some of the strongest words from Donald Trump in support of the asset class thus far in the campaign.
“To further secure America's future and create opportunity for young people, I will end Joe Biden's war on crypto,” the Republican presidential candidate told supporters at a rally in Racine, Wisconsin on Tuesday afternoon. “We will ensure that the future of crypto and the future of Bitcoin will be made in America, otherwise other countries are going to have it.”
JUST IN: ?? Donald Trump says "to further secure America's future and create opportunity for young people, I will end Joe Biden's war on crypto."
"We will ensure that the future of crypto and the future of #Bitcoin will be made in America, otherwise other countries are going to… pic.twitter.com/NmmM2J3kIq— Bitcoin Magazine (@BitcoinMagazine) June 18, 2024
But the present has been difficult for Bitcoin and the broader cryptocurrency market as post-ETF momentum has stalled and BTC has found itself adrift in its post-halving doldrums.
Analyst Rekt Capital provided some context to hearten Bitcoin bulls, sharing a chart on X which compares the top crypto’s 2016 post halving trajectory to the present one.
“Bitcoin is following the blue path well,” he wrote.
