Bitcoin has dropped below $100,000 following Trump's directive on cryptocurrencies.

Bitcoin dropped by more than 6.5% to a level below $98,000 on the morning of January 27 in Europe, before experiencing a slight rebound. At the same time, smaller tokens such as Solana and XRP, which surged following Donald Trump's election victory, faced even steeper declines of approximately 11% and 14%, respectively. The second-ranked token, Ethereum, lost over 8% at one point. This information is reported by Bloomberg.

The drop occurred after U.S. President Donald Trump ordered the establishment of a task force to advise the White House on cryptocurrency policy. The group's mission is to propose a regulatory framework for digital assets in the U.S. within six months, as well as evaluate the possibility of creating a cryptocurrency reserve. Bloomberg notes that the directive does not confirm that the U.S. will create a Bitcoin reserve – a promise Trump made during his campaign.

The digital asset market reacted to this directive on January 24 with considerable enthusiasm, initially showing modest growth.

Overall, Bitcoin has increased by more than 50% since Trump's election victory in early November. Previously, Trump pledged to make the U.S. the global capital of cryptocurrency.

As of 7:54 AM in London on January 27, Bitcoin was priced at $99,227.