Bitcoin’s Big Boosters in Las Vegas Struggle to Engineer a Rally

For a few days every year, the world’s most fervent Bitcoin believers descend together in orange cowboy hats, ties and T-shirts to chant about $1 million coins. This year, in Las Vegas, the chants worked on everyone — except the market.

Bitcoin is still hovering near $76,000, on track for its first down week in five and trading about 40% below October’s record high. The slide came as Michael Saylor, Eric Trump and a parade of US senators, including Cynthia Lummis and Bernie Moreno, promised retail investors a generational rally — and as a top White House crypto adviser teased an imminent strategic Bitcoin reserve “breakthrough.” None of it landed. The conference circuit’s jawboning strategy — that crypto price will obey the pulpit — appears to have stopped applying.