This Week in Cryptocurrency: Trump Tariffs and Reserve Plans Rock the Areas as ETFs Bleed

President Donald Trump rocked financial industry this week by flip-flopping on his business tax policy, leaving stocks investors somewhat confused with what to do.

Bitcoin, as a risk asset, couldn’t escape the volatility: the coin has now swung between$ 94, 770 to$ 82, 681 over the last seven days. CoinGecko displays. It’s currently trading hands for$ 85, 925 after rising by less than 1 % over the past week.

As the S&amp, P 500 had its worst year in decades, Bitcoin definitely felt the pain also, crashing on Monday and Tuesday after past Sunday’s wave prompted by Trump’s crypto supply content. The price also fell suddenly on Thursday after President Donald Trump publicly announced the development of a Bitcoin supply and accompanying bitcoin stockpile.

Why? Traders perhaps had sold the information later Thursday following lot of speculation around stockpile plans, plus the coin evidently nonetheless moves with dangerous U. S. equities when there’s economic uncertainty.

And this week was far from sure: President Trump made a number of presentations on the number and timing of the taxes on trading lovers, spooking markets in the process.

ETF activities

British investors pulled money out of the fresh Bitcoin Stocks this year as President Trump’s trade policy made the money less attractive. Friday was the week’s worst time, Farside Investors information reveals, with$ 409 million worth of withdrawals, bringing the year’s loss to$ 740 million.

However, it’s not as bad as the year before, when Bitcoin ETFs had their worst moment on report. Until industry stabilize, we can’t be sure when buyers will want to buy stock in the money with the same passion as last year.

Bitcoin supply announced

It suddenly happened: President Trump followed through with his campaign promises and on Thursday signed an order to establish a Crypto strategic reserve.

The reserve—which did work like other federal reserves—will hold the almost 200, 000 Cryptocurrency that the U. S. already has in its custody from seizures.

But the order adds that it will “develop strategies for acquiring additional government Bitcoin provided that such strategies are budget-neutral”.

The news came after hardcore Bitcoiners on Sunday were furious when the President announced via his Truth Social platform that the government would hold a load of other cryptocurrencies, too. But since then, the U. S. leader has made it clear that such altcoins would be held in a different stockpile.

Selling gold for BTC? Not yet

Still, how much more buying and HODLing will authorities do? White House Crypto Czar David Sacks said ahead of the White House crypto summit on Friday that the Trump administration isn’t planning to sell off reserve government assets like gold to buy up more Bitcoin… at least not yet.

Sacks did add that while there was no talk of selling gold for magical Internet money—as a lot of the hardcore maximalists were hoping for—that the Treasury and Commerce Secretaries would soon discuss how to buy more BTC at no cost to taxpayers.

Texas plans move forward

In other news, the state of Texas edged closer to getting its own Bitcoin reserve after the Senate passed a bill on Thursday. The proposed legislation, bill SB21, aims to create a” state-managed investment fund focused on Bitcoin and other high-market-cap cryptocurrencies”.

Sound familiar? That’s because last year, Texas State Representative Giovanni Capriglione proposed H. B. No. 1598 for the Lone Star State—a bill that would allow the local government to stockpile Bitcoin.

SB 21 is crypto bill, which, if approved, would be unique as it would allow the state” a more flexible and investment-driven approach, potentially allowing Texas to capitalize on crypto market movements”. That means buying other altcoins.

It will now go to the House for another vote. Will it keep the maxis happy, though?