Bitcoin's value has sharply decreased, dropping below $89,000, its lowest since November, influenced by unfulfilled crypto policy promises, economic fears, and a significant hack. This downturn reflects broader market instability, with major cryptocurrencies like Ethereum and Solana also facing losses.
Polymarket has indicated an 88% chance that Scott Bessent, a hedge fund manager and prominent fundraiser for Donald Trump, will be appointed Treasury Secretary if Trump secures a second term. Bessent, known for advocating cryptocurrency, particularly Bitcoin, could reshape U.S. economic policy regarding digital assets. His proactive approach and connections within the Republican Party suggest a significant shift towards pro-crypto regulatory environments in a potential Trump administration.