#TrumpCongressSpeech President Donald Trump's Speech to Congress on March 4, 2025, had a significant impact on the cryptocurrency market. Here are the main influences observed:
**1. Announcement of "Crypto Strategic Reserve"**
- **Announcement Details:** Trump announced the U.S. government's plan to establish a "Crypto Strategic Reserve" that will store various digital assets, including Bitcoin, Ether, XRP, Solana, and Cardano. The goal is to make the U.S. the "Crypto Capital of the World." citeturn0news0
- **Initial Market Reaction:** Following the announcement, the price of Bitcoin surged by 20% on Sunday, reaching around $86,000, while Ethereum rose by 14%. However, this spike was temporary, with prices falling nearly 9% on Monday. citeturn0news0
**2. Tariff Policy and Its Impact**
- **Tariff Announcement:** Additionally, Trump announced a 25% tariff on imports from Canada, Mexico, and China. citeturn0news1
- **Impact on the Crypto Market:** The threat of tariffs caused investors to shy away from risky assets, including cryptocurrencies. As a result, the prices of Bitcoin and Ethereum experienced significant declines, with the crypto market losing approximately $430 billion in value over that weekend. citeturn0news3
**3. Investor Reaction and Volatility**
- **Initial Rise:** Trump's announcement initially sparked optimism among crypto investors, leading to a price surge. citeturn0news5
- **Subsequent Decline:** However, concerns over tariff policies and economic uncertainty led to a price drop, showcasing high volatility in the crypto market. citeturn0news3
**Conclusion**
Trump's speech to Congress provided an initial boost to the cryptocurrency market through the announcement of the "Crypto Strategic Reserve." However, the tariff policies announced alongside created uncertainty, leading to volatility and declines in crypto prices. Investors are advised to exercise caution and consider the risks associated with government policies and global market conditions.
