$BTC The price of Bitcoin (BTC) reached an intraday high of $87,453 in the early hours of the New York trading session, but quickly retraced its gains to $83,655 shortly after U.S. President Donald Trump made a video appearance at the Digital Assets Summit in New York.

Before the video statement, rumors circulated on X suggesting that President Trump would announce zero capital gains taxes for certain cryptocurrencies or issue a favorable statement regarding the U.S. Bitcoin strategic reserve.

To the disappointment of some traders, none of the rumors turned out to be true, and Trump merely reaffirmed his promise not to sell the Bitcoin confiscated by the government, in addition to urging Congress to enact clear legislation on stablecoins as soon as possible.

The most positive statement from President Trump was his reiterated goal to make the U.S. the leader in all things cryptocurrency.

"Together, we will make America the undisputed superpower of Bitcoin and the crypto capital of the world." As is usual in crypto markets, traders clearly bought on the rumor that Trump would make pro-Bitcoin executive order statements, and once it became clear that this was not the case, they sold on the news.

In a post on X, certified market technician Aksel Kibar said there is still a chance that the price of Bitcoin corrects to $73,700.