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    Financial Updates: CoinDesk 20 Index Falls, Bitcoin Wavers Amid US Economic Data, and Dogecoin Rises on Trump’s Efficiency Plan

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    The CoinDesk 20 Index decreased by 1.86% to $2,598.80, while Bitcoin recorded a slight dip of -0.04% to $87,804.73 and Ether saw a drop of -3.78% to $3,166.56. Bitcoin reached $90,000 but paused due to anticipated US consumer price data, while Dogecoin gained attention after Donald Trump confirmed plans for a Department of Government Efficiency with Elon Musk and Vivek Ramaswamy in charge. Ethereum developer Consensys is planning a token issuance, Bitcoin developers are discussing upgrades, and the value of Bitcoin held by El Salvador surpasses $500M as speculation grows on Bhutan’s crypto plans.

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    This piece was originally featured in First Mover, CoinDesk’s daily newsletter keeping you updated on what’s happening in the crypto markets. Click here to get it in your inbox every day.

    Here are the most recent costs to take note of:

    – The CoinDesk 20 Index has seen a decrease of 1.86%, down to $2,598.80.
    – Bitcoin (BTC) is slightly down -0.04% at $87,804.73.
    – Ether (ETH) experiences a more significant drop of -3.78% to $3,166.56.
    – The S&P 500 slightly dips down -0.29% to 5,983.99.
    – Gold is holding steady with no increase or decrease at $2,611.13.
    – Nikkei 225 takes a hit, falling -1.66% to 38,721.66.

    Here’s what’s been happening:

    – Bitcoin hit a ceiling at the $90,000 and has paused its impressive streak for now. All eyes are on the release of US consumer price data which could sway sentiment in the crypto market. Meanwhile, DOGE, the dog-themed cryptocurrency, is drawing attention after plans to create a Department of Government Efficiency (DOGE) were confirmed by President-elect Donald Trump. Elon Musk and Vivek Ramaswamy will head this and work on large-scale structural reform outside the government.

    Here are the current top stories:

    – Ethereum Developer Consensys is planning a token issuance which is a strong sign of thawing under Trump.
    – Bitcoin developers are discussing technology upgrades to the top crypto – and how to ensure they don’t break it.
    – The value of Bitcoin stored by El Salvador surpasses $500M and this could be a big deal – but not as big as what Bhutan could be plotting.

    Article edited by Sheldon Reback.

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