Trump Factor Triggers Volatility in Bitcoin Markets Ahead of August 22 Speech

Bitcoin's recent rally has been disrupted by President Donald J. Trump's upcoming speech on August 22, which is causing uncertainty in the markets.

The price of Bitcoin (BTC) pulled back from $79,500 to around $77,400 ahead of the event, with its value in Indian rupees (INR) influenced by both the BTC/USD price and USD/INR exchange rate.

Analyst Michaël van de Poppe warned that rising volatility could lead to sharp short-term corrections, suggesting scalp entries below $74,200 and longer setups at $71,100 as near-term risks for crypto investors.

The relationship between Bitcoin's price and the US dollar is complex, but Trump's speech has added another layer of uncertainty, which could impact profits measured in INR.