Bitcoin is down approximately 0.7% after a previous increase of over 2%, unable to hold the $117,000 mark. Altcoins also decreased slightly despite Ethereum's significant recovery of over 6% to reach $3,900. President Trump's recent executive order aims to allow alternative assets like cryptocurrencies in 401(k) plans. Currently, retirement plans manage around $12.2 trillion, and the order prompts federal regulators to review investment rules. Historically, plan administrators feared legal liabilities associated with volatile assets, which may alter their investment strategies. Positive market responses reflected in substantial inflows to Bitcoin and Ethereum products indicate growing interest in crypto investments.
Bitcoin experienced a corrective pullback of around 0.7% after a previous rise of over 2%, struggling to maintain the $117,000 level due to market fluctuations.
Trump's executive order facilitates the inclusion of alternative assets in retirement plans, which currently manage around $12.2 trillion for over 90 million savers, aiming to clarify existing regulations.
Plan administrators have historically avoided including cryptocurrencies in retirement plans due to concerns over legal liability stemming from volatility and higher fees, despite the lack of explicit bans.
Market reactions were bullish following the executive order, resulting in net inflows of over $280 million for Bitcoin ETFs and more than $220 million into Ethereum products.
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