The U.S. stimulus plan is at an impasse, and Bitcoin fell by 1.6%.

Recently, U.S. President Trump announced that he rejected the $2.4 trillion economic stimulus plan proposed by the Democrats and instructed his delegation to suspend related negotiations until after the presidential election.

Trump issued a statement on social media stating: "We have proposed a generous plan of up to $1.6 trillion, but the other side seems to lack the sincerity to engage in real negotiations." He also mentioned that if he wins the election, he will immediately push for an important economic stimulus bill, focusing on supporting hardworking American citizens and small businesses.

As soon as this news was announced, it immediately caused turmoil in the global financial markets, and the cryptocurrency sector was no exception. Data shows that as of 10:30 AM on October 7, the price of Bitcoin dropped by 1.6%, while Ethereum's decline reached 4.31%.

The sudden interruption of the negotiations has undoubtedly added more variables to a market that was already filled with uncertainty. Investors are closely monitoring the developments to assess their potential further impact on various assets, particularly the digital currency market.