đ¨In the last 48 hours, the market has experienced significant swings, and its main ambassador, of course, has been Donald Trump â whose words move the market like a puppet.đ¨
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đ¸As I mentioned yesterday, the key event was his announcement about creating a strategic crypto reserve and signing an executive order on digital assets.
According to this order, the Presidential Working Group will be responsible for forming the crypto reserve, which will include BTC, ETH, XRP, SOL, and ADA. But on February 28, the crypto summit was announced, which will take place on March 7, 2025, and the market responded with some local positivity. This was followed by a kind of warming-up week for the crypto push.
đĽWeâve already seen the news about the reserve, which pumped all the assets listed in it. đĽBut by the evening of yesterday, they had once again dropped following the announcement about the introduction of tariffs starting from April 2. As a result, in 24 hours, the crypto market lost $500 billion in capitalization.
đđNow, we can only wait to see what surprises the summit will bring. And perhaps we will be greeted with a few more big news items before it begins. đŹAlso, interestingly, Eric Trump commented on his fatherâs tweet:
ÂŤItâs time for traditional finance to catch up with the crypto industry, which operates 24/7. The world no longer lives 'from 9 to 5', and if banks and stock markets donât change, they will disappear.Âť
He called the announcement of the creation of the crypto reserve on Sunday a brilliant move, as Wall Street was out of action.
đSome large companies and individuals have also expressed that the marketâs sharp reaction to Trumpâs post is excessive.
đ Itâs also worth mentioning the case of the ÂŤinsiderÂť, who opened a long position with 50x leverage on Ethereum for $200 million an hour before the reserve announcement, and then quickly sold, making ~6.8 million. Coincidence? Probably not...
He also opened a position on BTC. To understand his risk:đĽThe ETH position was opened at $2,197, and the liquidation was at $2,149.đĽThe BTC position was opened at $85,908, and the liquidation was at $84,752.
At its peak, the position size reached $100 million in BTC and $150 million in ETH. đđĽđĽIn general, there are still more questions than answers. The real game will begin after the summit â weâll be keeping an eye on the developments. Why Follow My Analysis?đĽđđ â
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