Bitcoin Price Soars Above $41K on Biden’s Crypto Administrative Order Leak

Bitcoin’s price soared in today’s Europe early morning trading session. The cryptocurrency jumped past $41K on a leaked press release containing information on President Biden’s expected administrative order on crypto.

• BNN Bloomberg reported earlier today that there’s been a press release leaked on The Treasury Department’s website. The statement has since been removed, and a spokesperson declined to comment for Bloomberg.
• In any case, the leaked document read that

President Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy. This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses.

• In addition, the Treasury will be partnering with other agencies to compile a report on the future of payment systems and money, in general.
• The text was perceived well by the market.
• Bitcoin’s price soared from slightly below $39,000 to just shy of $42,000 and is currently trading at around $41,700.
• This entire action also left around $190 million worth of liquidated positions in the past 24 hours, the majority of which are naturally short.