State of Crypto: What the Crypto World Should Watch for in the Biden Era
The incoming president has already announced he would tap pro-crypto, pro-regulation Gary Gensler to lead the SEC, but other issues remain.
The comments came after reports the White House was considering reducing the size of its proposed stimulus package.
Some institutions have paused their buying, at least for the moment.
The top cryptocurrency is changing hands near $50,500 at press time, representing a 4% gain on the day.
Uncertainty is leading many to take short-term profit, according to the "Coinbase Premium" indicator.
The sell-off also led to major corrections for other cryptocurrencies including ether, stellar, xrp and chainlink.