Trump Signs Order Supporting Cryptocurrency Rights, Bitcoin Surges

Former President Donald Trump has signed an executive order aimed at protecting the rights of American citizens to mine, transact, and self-custody digital assets, which is anticipated to bolster Bitcoin's price. The order bans the issuance of Central Bank Digital Currencies (CBDCs) unless legally mandated, aligning with Trump's pro-crypto campaign promises. This executive action comes as Bitcoin has experienced a recent surge, trading above $98,000, partly fueled by supportive comments from Eric Trump on social media. Meanwhile, significant trading volume and market dynamics are suggesting a critical juncture for Bitcoin, with resistance levels around $99,120. Additionally, the Trump family's involvement in cryptocurrency, particularly through their platform World Liberty Financial, is garnering attention as it handles substantial asset transactions. The government's approach to digital assets is being shaped by newly appointed advisors, highlighting a concerted effort to advance the U.S. position in the cryptocurrency landscape.