$BTC

Bitcoin fell to $96,000 amid the speech of "crypto king" David Sachs

The price of the first cryptocurrency fell to about $96,000.

This happened amid the speech of "crypto king" David Sachs.

He spoke about stablecoins and mentioned the creation of a crypto reserve.

Volatility in the crypto market led to the liquidation of futures positions worth more than $380 million.

On the night of February 5, 2025, the price of the first cryptocurrency fell to about $96,000. Subsequently, the asset rate rose to $99,000. At the time of writing, bitcoin is trying to consolidate near $97,500

It should be noted that bitcoin fell against the backdrop of the speech of "crypto king" David Sachs, who spoke about the cryptocurrency sector. The official announced the work on the bill on stablecoins and their potential to ensure the dominance of the US dollar at the international level.

Sachs also said that a Bitcoin reserve is one of the first things that will be considered in the sovereign wealth fund. However, he did not comment on the creation of a crypto reserve, as many expected. In addition, in an interview with CNBC, the director of artificial intelligence and cryptocurrency at the White House called Bitcoin “a great means of savings.”