Key Points
- Bitcoin rebounded following a recent dip below $98,000, fueled by optimism in the US.
- An important press conference takes place today, following Trump’s move that sparked speculation of upcoming BTC investments.
Bitcoin price rebounded above $99,000 earlier, following a dip below $98,000. The coin’s upward moves are fueled by optimism coming from the US ahead of an important press conference on digital assets featuring AI and crypto supporter David Sacks.
Bitcoin Trades Above $99,000
At the moment of writing this article, BTC is trading above $99,000, up by almost 4% in the past 24 hours.
BTC price in USD todayEarlier today, BTC surged above $102,000 but quickly dropped to lower prices due to escalations in the US-China trade war.
The US imposed a 10% tariff on all Chinese imports, escalating tensions, and China retaliated with tariffs on US oil and LNG, launching an antitrust investigation into Google LLC. Investor sentiment weakened and led to a sell-off in risk assets including BTC.
However, BTC’s price rebounded above $99,000 fueled by optimism regarding the upcoming important press conference in the US on digital assets.
David Sacks Will Hold a Press Conference Today
President Trump’s White House AI and Crypto Czar, David Sacks, will hold a press conference later today at 2:30 PM ET to discuss how to secure America as a leader in the digital asset ecosystem.
The important meeting will feature other important names including:
- Senate Banking Committee Chairman Tim Scott
- Senate Agriculture Committee Chairman John Boozman
- House Financial Services Committee Chairman French Hill
- House Agriculture Committee Chairman G.T. Thompson
Today’s press conference official details
David Sacks is an important name for the crypto industry and the upcoming event brings massive optimism regarding Bitcoin and crypto’s future.
Today’s event comes following a recent move made by Trump which fueled more hopes for crypto in the US including a potential BTC reserve.
Trump Signed an Executive Order to Establish a US Sovereign Wealth Fund
Yesterday, February 3, Trump signed an executive order to establish a US sovereign wealth fund in the next 12 months – this marked a historic first for the nation.
Sovereign funds usually invest in assets such as stocks, bonds, and real estate, but Bitcoin advocates speculate that the US government could also allocate funds to BTC especially since Senator Cynthia Lummis reacted to the news with a Bitcoin symbol on X.
Sen. Cynthia Lummis via X
The crypto industry is eagerly waiting to see the topics addressed during today’s crypto press conference and if a strategic BTC Reserve in the US is brought up as well.
