Bitcoin edged cautiously higher from six-month lows as global markets took stock at the end of a wild week and investors hunted for bargains in some digital tokens after the heavy selling of the past month. The largest digital currency by market value gained 2.2% to US$36,979, outperforming its smaller peer Ethereum - just 0.4% higher to US$2,420. Joe Biden’s White House is reportedly planning a review of cryptocurrency and potential impacts on national security.
The President could make an executive order regarding the US government’s stance on digital assets, with an announcement expected in the coming weeks, according to a report in Bloomberg. It speculated that the scrutiny on digital assets including crypto, non-fungible tokens, and stablecoins could lead to stricter regulatory frameworks.