What Happened: Taking to social media platform Truth Social, Trump said, “Happy Crypto Week! The House will soon VOTE on a tremendous Bill to Make America the UNDISPUTED, NUMBER ONE LEADER in Digital Assets – Nobody does it better!"

Bitcoin BTC $121,693.10 , the leading cryptocurrency by market value, traded around $117,400 following Trump's announcement, down 0.6% from the European session high of $118,200. Prices have failed to establish a foothold above $118,000 multiple times since Friday's early Asian trading hours, CoinDesk data show.

U.S. president Donald Trump has helped spur the crypto market higher, pointing to its success as why the Federal Reserve should “rapidly” lower interest