Late in the U.S. trading day, bitcoin was down 4.8% over the past 24 hours to $96,900 after having climbed up to the $101,000 level just two hours earlier. Much of the altcoin sector fared worse, with solana (SOL), (XRP), cardano (ADA) and chainlink (LINK) sporting declines of 6%-10%. Ether (ETH) was lower by 5.3%.

US President Donald Trump has vowed to bolster the AI and crypto industries by easing regulatory constraints and ramping up investments.

The feasibility of Donald Trump’s ambition to create a national reserve of Bitcoin is still being studied by officials in the administration, White House crypto czar David Sacks said as he met with lawmakers to advance the new president’s policies on digital assets.

David Sacks and several pro-crypto politicians discuss the future of the Bitcoin and crypto industry in the United States at the first-ever U.S. press conference on digital assets.

The Trump administration is pushing ahead with plans to regulate digital assets, with White House crypto czar David Sacks at the forefront.

David Sacks, the newly appointed White House Crypto Czar, walked into his highly anticipated press conference on Capitol Hill today and left many in the crypto community frustrated. His mission was to explain how President Trump’s administration plans to push the US into crypto dominance after years of chaos under Gary Gensler’s anti-crypto regime.