Since Donald Trump assumed his second term in January 2025, the cryptocurrency market has experienced a mix of euphoria and distrust. With promises to transform the U.S. into the 'crypto capital of the planet', Trump signed executive orders, such as the creation of a strategic reserve of Bitcoin and other currencies (Ethereum, XRP, $SOL and $ADA ), and banned a Central Bank Digital Currency (CBDC). Bitcoin, which reached $109,000 in January, currently fluctuates around $89,000, but the question that echoes is: Is Trump really controlling this market?
On one hand, his actions have a clear impact. When he announced the reserve on March 2, $BTC rose 11% and altcoins like Cardano surged 60% in hours, according to Reuters. His influence is undeniable: tweets and speeches move prices, and his company, World Liberty Financial, profited millions from the $TRUMP token, raising criticism of a conflict of interest. The appointment of crypto enthusiasts, such as Paul Atkins to the SEC, also signals a lighter regulatory environment, attracting billions in investments.
On the other hand, analysts point out that Trump does not 'control' the market as a direct manipulator. The 5% drop in Bitcoin following the detailing of the reserve (using only confiscated coins, without new purchases) shows that the market reacts more to expectations than to concrete actions. Volatility persists, and global factors – such as Fed interest rates and conflicts like that in Ukraine – weigh more than Trump's words. 'He is a catalyst, not the conductor,' says a strategist from Goldman Sachs.
