Cryptocurrency prices briefly jumped after President Donald Trump's surprise announcement he wants the U.S. government to purchase and hold a variety of digital assets in a strategic reserve fund, an announcement that highlights Trump's growing attempts to use volatile cryptocurrency prices as a barometer of his public support.

Bitcoin price extends its decline on Tuesday and erases its weekend gains. US President Trump’s announcement of the Crypto Strategic Reserve was turned into a short-term “buy the rumor, sell the news” event.

Price gains for bitcoin and other digital tokens moderated Monday, as investors digested President Trump's plans for a national cryptocurrency stockpile. On Sunday, the president said he would move forward with a U.