Trump names BTC and other assets in U.S. Crypto ReserveTrump’s Crypto Reserve Ignites Bitcoin Rally and Market Speculation
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Price ActionAfter today’s announcement by Donald Trump about the U.S. Digital Asset Reserve, Bitcoin rallied hard. It had dropped down to the 200-day moving average, and since the announcement has now bounced up to the 128-day moving average. The 128-day moving average is now acting as resistance. Both of these moving averages are key moving averages for Bitcoin in bull markets. They typically act as support on pullbacks, as we have seen again with the 200-day moving average in recent days. Figure 1: Bitcoin bouncing off the 200 day moving average. After a brief fake-out below the range support we have been tracking in this newsletter, $BTC has burst back into the range and is currently bouncing off the upper level of range support at $91,800. Figure 2: Price now back in the range. If $BTC can close above the 128-day moving average then the next target will be the $100,000 area. The Big Story: Trump names Bitcoin and other assets in U.S. Strategic Reserve.President Donald Trump has announced the formation of a U.S. strategic cryptocurrency reserve, incorporating digital assets such as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). The initiative aims to bolster the nation's leadership in digital asset innovation and represents a significant policy shift from previous administrations. The announcement led to immediate market price reactions:
There was skepticism among some industry insiders around the inclusion of digital assets beyond Bitcoin. Others were curious to learn more about the details. Coinbase CEO Brian Armstrong stated a proposal for the final U.S. Strategic Reserve: Figure 4: Brian Armstrong Tweet. This move is expected to accelerate institutional adoption, provide greater regulatory clarity, and strengthen U.S. leadership in digital asset innovation. It marks a departure from the previous administration's stringent regulatory measures, signaling an era of more favorable policies for the crypto industry. Industry experts are providing a wide-range of views as to the weight and inclusion of assets in the U.S. Strategic Reserve. It is our viewpoint that Bitcoin, as the hardest asset available, would make most sense in the Strategic Reserve. We now wait to see the game theory of other nations potentially responding and creating their own Strategic Reserves over the coming weeks and months. Live Chart Review: Bitcoin Realized PriceFigure 4: Bitcoin Realized Price What is Bitcoin Realized Price?
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Invest wisely, stay informed, and let data drive your decisions. Thank you for reading, and here’s to your future success in the Bitcoin market! 🎁 Special Offer: Use Code: BMPRO For 10% OFF All Bitcoin Conference Tickets Disclaimer: This newsletter is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions. We sincerely appreciate your support and hope you found this content valuable. Please leave a like and let us know your thoughts in the comments section; we always welcome feedback from our audience! |
Monday, March 3, 2025
Trump names BTC and other assets in U.S. Crypto Reserve
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