Trump signs an executive order to reduce drug prices... and cryptocurrencies drop by 30%
In a surprising move, US President Donald Trump signed an executive order to reduce the prices of prescribed drugs by up to 80%. This decision aims to alleviate the burden on American citizens, especially amid the ongoing rise in healthcare costs.
But the surprise was in the impact of this decision on the financial markets, specifically the cryptocurrency market, where Bitcoin and other cryptocurrencies recorded a sharp decline of over 30% within hours of the announcement.
The reason? Analysts believe that this type of order reflects the intention of the US government to intervene directly in the markets, which raises concerns among investors and leads them to move towards rapid selling in anticipation of any economic developments that may affect liquidity and investments.
The situation remains volatile, and traders are advised to exercise caution and closely monitor official news and economic data.
