TradingKey - The first White House Crypto Summit disappointed expectations, putting pressure on Bitcoin's price as it fell closer to $80,000.
On Monday, the first White House Crypto Summit failed to meet expectations, causing Bitcoin's price to continue its decline, testing the $80,000 level again and temporarily trading at $81,719.
Bitcoin Price Chart, Source: TradingView.
Trump's participation in the summit was brief, more akin to an opening host, with no mention of new policies or substantive content—mostly just slogans. Industry attendees' speeches largely focused on praising the progress in the crypto space under the Trump administration and Trump himself.
The summit not only fell short but also drew strong criticism. Economist and gold advocate Peter Schiff posted, "The crypto summit is a disgrace. The White House has been 'captured' by crypto interest groups, exactly what the Founding Fathers warned against. This will be a stain on Trump's political legacy and mark a low point for the U.S. presidency and the nation."
