Trump's Crypto Endorsement Helps Bitcoin Bounce Back

Bitcoin took a hit on Monday after Strategy, the largest corporate holder of Bitcoin, announced it had sold $216 million worth of the digital asset. This move caused investor concerns about Strategy's long-term commitment to Bitcoin.

The company has been promoting a buy-and-hold strategy for years, so this sale raised eyebrows in the market. Bitcoin initially dropped towards the $60,000 mark as a result.

However, President Donald Trump stepped in to reaffirm his support for cryptocurrency, saying he's 'A Big Crypto Guy'. This statement helped offset investor concerns and allowed Bitcoin to recover from its sharp losses.