After exceeding US $ 92,000, Bitcoin (BTC), the market leader, rises 3.3% and is supported in its support zone at US $ 90,000. Meanwhile, Ethereum advances 2.6% Au $ S2.287. The rest of the Altcoins advance up to 11.8%of the hand of Cardano, Chainlink (6.9%) and Avalanche (3.1%).
The promise of a strategic reserve
Through its social truth network, Trump reaffirmed his commitment to the crypto industryannouncing that his executive order on digital assets instructs the presidential work group to advance in the creation of a strategic reserve that includes XRP (Ripple), Sol (Solana) and Ada (Cardano). “I will make sure that the US is the world’s crypto capital. We are making the United States big again!” Said the president.
Initially, the statement did not mention Bitcoin or Ethereum (eth), But later Trump clarified that both assets would also be part of the reserve.
The ads caused strong increases in the aforementioned cryptocurrencies: XRP won 18%, Sun advanced 14%and Ada shot 52%.
This impulse comes after a difficult week for the sector, when Bitcoin fell below US $ 80,000 due to new Trump tariff measures.
Next crypto
The White House announced that Trump will organize a summit on cryptocurrencies on March 7, With the participation of sector leaders, investors and members of the presidential work group. The event will be led by David Sacks, tsar of cryptocurrencies and the White House, and Bo Hines, executive director of the group on digital assets.
Analysts highlight that Trump’s personal interest in cryptocurrencies could generate An effect of support similar to that of the Federal Reserve in the Securities Markets, what some already call the ‘Trump put’.
However, experts warn that the bullish impulse It could be modeled in the short term while investors evaluate the legal viability of the reserve. The Federal Reserve, headed by Jerome Powell, has previously indicated that it is not authorized to maintain Bitcoin reservations, which raises technical challenges for the implementation of the proposal.
Analysts recommend closely following the entry flows in the Bitcoin ETFs in cash as an indicator of the Market Directorate, after the strong exits registered in February that exceeded the U $ 3,000 million.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
