Bitcoin and various altcoins experienced significant fluctuations following U.S. President Donald Trump's announcement of plans to create a strategic national reserve for cryptocurrencies. This declaration has ignited both excitement and skepticism within the crypto community.
On March 2, 2025, Trump announced via his Truth Social platform his intention to include notable cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) in this reserve. His statement prompted immediate action from investors, with Bitcoin surging from $85,000 to over $95,000—an increase of more than 11%—in just two hours. Similarly, Ethereum saw its price rise from $2,200 to $2,500, marking a 13% gain, and Cardano surged over 67% to reach $1.13, according to data from Coinmarketcap.
Despite this initial surge, the market faced downward pressure the following morning, March 3, as investors took profits. Bitcoin's price declined to $92,800, Ethereum stabilized at $2,432, and Cardano fell to $1.00. Le Anh Quoc, director of operations at AlphaTrue, commented on the situation, stating, "Le marché des crypto-monnaies a bondi après l'annonce de Trump, puis a légèrement diminué quelques heures plus tard, ce qui n'est pas un gros problème." He added, "Bitcoin est dans un état latéral dans la fourchette de 93 000 à 95 000 USD, cet ajustement est stable, rien d'inhabituel."
Industry reactions highlight the mixed feelings surrounding Trump's proposal. Analysts, such as Alex Kruger, noted the psychological impact of Trump's statement on market behavior. Kruger pointed out, "Aujourd'hui, Trump a signalé qu'il y avait une volonté de Trump sur la Crypto. C'est suffisant pour un changement de tendance, en particulier compte tenu de la façon dont le BTC a explosé à travers la résistance avec un sentiment parmi beaucoup à des niveaux historiquement bas." This statement reflects how Trump's involvement is perceived as influential—akin to how the Federal Reserve supports stock markets during volatility.
Interest has revived for Bitcoin options, particularly those targeting $100,000, with the open interest for such options rising by 1,163 contracts worth over $100 million, marking the largest increase for any listed options on Deribit as per Amberdata's analysis. "100,000 $ sera le niveau que tout le monde recherchera au cours de la semaine," noted Greg Magadini, director of derivatives at Amberdata.
While optimism prevails among traders betting on these options, concerns linger about broader market sustainability. Numerous observers are cautious, emphasizing the need for concrete actions beyond announcements. Arthur Hayes of the Maelstrom Fund remarked, "Rien de nouveau ici. Juste des mots. Attendez-vous à ce qu'ils obtiennent l'approbation du Congrès pour emprunter de l'argent et/ou réévaluer le prix de l'or à la hausse."
Despite substantial gains, the market exhibits signs of speculative behavior. Analysts observe how investors, driven by potential profits, engage in trading strategies reminiscent of the stock market practices when pivotal news occurs. This behavior underlines the volatility of cryptocurrency markets, presenting both risks and opportunities as they navigate sentiments and expectations surrounding political statements.
Meanwhile, Aptos, another significant player, reflects the broader market trends with its price slipping by 4.85% to $6.20, exhibiting weak trading volume, which was down by nearly 44% within the 24-hour span. Aptos is entrapped within the current bearish situation, as observed by analysts who suggest it could need heightened interest to reverse its fortunes.
Overall, the recent developments propelled by political declarations highlight the interplay between crypto markets and governmental sentiments. A continued pattern of buying or selling may depend significantly on Trump's forthcoming actions and the anticipated responses from Congress. The upcoming White House summit on March 7 may provide additional clarity and potentially influence the trends we are witnessing.