Cryptocurrencies Drop Up to 3%, but Bitcoin Holds Firm at $107,000
In New York, the Dow Jones is up 0.7%, while the S&P 500 and Nasdaq are gaining 0.6% and 0.5%, respectively.
Quick overview
- Top cryptocurrencies are experiencing losses of up to 3%, with Bitcoin trading sideways but gaining 3.1% this week.
- Ethereum has increased by 1.3%, while Solana and XRP have seen declines of 0.9% and 3%, respectively.
- Senator Marsha Blackburn hinted at U.S. plans to purchase 1 million bitcoins, but Senator Cynthia Lummis cautioned that other legislation takes precedence.
- U.S. stocks are rising despite weak GDP data, with the Dow Jones up 0.7% and the S&P 500 and Nasdaq also gaining.
Top cryptocurrencies are trading with losses of up to 3% this Thursday, while Bitcoin (BTC) continues to move sideways over the past 24 hours.
Still, the leading cryptocurrency has gained 3.1% so far this week, surpassing the $107,000 mark.
Among altcoins, Ethereum (ETH) is up 1.3% since yesterday, while Solana (SOL) is down 0.9% and XRP has dropped as much as 3%. Meanwhile, the memecoin Dogecoin (DOGE) is down 2.3%.
U.S. Could Buy Bitcoin
Senator Marsha Blackburn fueled speculation at a recent Bitcoin Policy Summit by pointing to strong presidential backing for the potential purchase of 1 million bitcoins (BTC) to be held as a strategic reserve by the United States.
However, Senator Cynthia Lummis—the sponsor of the bill—tempered expectations, emphasizing that legislation on market structure and stablecoins takes priority. She suggested that, with luck, a vote on the bitcoin reserve proposal could happen sometime in the next calendar year.
The senators’ comments sparked a flurry of interpretations on social media, with some mistakenly claiming the bill to acquire 1 million BTC would advance more quickly than other crypto-related regulations. In reality, as their remarks make clear, the outlook is more complex and nuanced.
Stocks Rise on Wall Street Despite Weak GDP Data
U.S. stocks are trading higher on Thursday, June 26, with European markets also showing a positive trend. The gains come after the release of mixed employment data in the U.S., and despite a sharper-than-expected drop in GDP.
In New York, the Dow Jones is up 0.7%, while the S&P 500 and Nasdaq are gaining 0.6% and 0.5%, respectively.
During the session, it was reported that U.S. GDP declined for the first time in three years during the first quarter of 2025. The final figure was dragged down by a 37.9% surge in imports, driven by concerns over potential tariffs under Donald Trump’s trade agenda.
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