News in the Jeffrey Epstein case adds more fuel to the fall in the price of bitcoin (BTC), which is trading below $90,000. At the time of publication of this note, bitcoin price is $89,280, 27% below its all-time high (ATH) of $126,190. This situation It occurs in a context where global uncertainty continues to increasemarked by concern about the fiscal health of large economies such as Japan, the United States, France and Italy, as reported by BitcoinDynamic. That is, these macroeconomic factors combine with political tensions to amplify the downward pressure on BTC. For this reason, what is related to Epstein, although it is not the main thing, adds more fuel to an adverse outlook for assets considered risky, such as bitcoin and cryptocurrencies. The latest news regarding the issue is that the United States Senate agreed to approve a bill to publish the files of the Epstein case, the financial magnate accused of sex trafficking, pedophilia and other serious crimes. The agreement was reached after the House of Representatives voted in favor of the initiative by 427 to 1. If the law is approved in the Senate, will be sent for promulgation by Donald Trump.
Regarding the legislative process in the Upper House, Republican John Thune, majority leader, announced that the process will be accelerated and that it could be approved without formal objections this week. It should be noted that Trump, who had initially rejected the push for the law, confirmed that he will sign the text as soon as he receives final approval from Congress. Last week, Trump asked the Justice Department to delve into Epstein’s connections to Democratic Party figures, including Bill Clinton, former Treasury Secretary Larry Summers and Reid Hoffman, co-founder of LinkedIn and one of its top financiers. According to Bloomberg, the president of the United States has the power to order the release of Epstein’s files without an act of Congress, but so far he has not done so. A spokesman for California Democratic Sen. Adam Schiff warned that altering or destroying parts of Epstein’s files «would violate a wide range of federal laws.» Furthermore, he noted that “the senator is certainly concerned that Donald Trump, who was investigated and charged with obstruction, will persist in his attempt to block and prevent the full disclosure of all documents and information in the possession of the United States government.” The possibility that Donald Trump will be politically weakened or face legal consequences due to the Epstein case introduces uncertainty among investors (and bitcoin does not escape this uncertainty) This is because the American president has positioned himself as a key figure in the ecosystem for promoting policies in favor of digital assets. In a context where government support can influence the market, there is fear that the government’s push towards BTC will slow down (due to Trump’s loss of political power) and that this will have an even more negative impact on its price.
