Rumors hinted Trump might announce no capital gains tax for some cryptos before Network X video.

Unfortunately for some traders, neither of these rumors were confirmed. Trump only reiterated his promise not to sell bitcoins confiscated by the government and urged Congress to swiftly pass the Stablecoin Act.

The most positive aspect of President Trump's speech was his newly stated goal of making the U. S. a leader in #cryptocurrencies . #Bitcoin rose briefly after Trump's speech, with traders advising traders to "be flexible and take profits. Bitcoin jumped to an intraday high of $87,453 in early New York trading, but quickly corrected to $83,655 shortly after U. S. President Donald Trump's video address at the Digital Asset Summit in New York. Before the video address, rumors were circulating on the X network that President Trump would announce a zero capital gains tax for some cryptocurrencies or make a positive statement about a strategic bitcoin reserve in the United States. To the disappointment of traders, none of these rumors were confirmed, with Trump only reiterating his promise not to sell confiscated bitcoins and urging Congress to pass legislation on stablecoins as soon as possible. President Trump's most positive statement was his repeated goal of making the U. S. a leader in the crypto industry. "Together, we will make America the undisputed superpower of bitcoin and the crypto capital of the world. As is common in cryptocurrency markets, traders believed rumors that Trump would make a statement in support of bitcoin, and when he didn't, they started selling. Chartist Axel Kibar said in a post on X that there is still a possibility of a bitcoin price correction to $BTC Kibar noted: Long-term chart of BTC/USD. It still looks like a pullback to the broken $73.7K level. What follows from here will determine the price action for the next few months

Hayes said:

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