Good afternoon, esteemed holders of BTC, ETH, SOL, XRP, and ADA.
Last night, Trump suddenly announced that he would issue an executive order to advance cryptocurrencies like BTC, ETH, SOL, XRP, and ADA into the strategic reserve of the beautiful country.
Trump's announcement, combined with the upcoming cryptocurrency conference next Friday, has greatly increased the positive expectations for the cryptocurrency market, leading to effective gains.
A piece of good news regarding the strategic reserve has led to a strong rebound in Bitcoin. This is also why I've been telling everyone not to be in cash, as there are too many positive expectations for Bitcoin this year.
Bitcoin suddenly surged last night, rising 10,000 points overnight, returning to 95,000, then falling back to 92,000, with a daily increase of 10%, up nearly 20% from three days ago's low.
With so many favorable expectations, the downside for Bitcoin is limited. Holding Bitcoin is a way to guard against sudden positive news, and today it proved to be effective. Since Bitcoin has strongly recovered from its decline, it has returned to the fluctuation range of 90,000 to 106,000.
In this range, it is very difficult to break down without significant negative news. The longer the range oscillates, the stronger the bottom becomes, increasing the probability of new highs for Bitcoin.
Ethereum ended its previous six consecutive down days yesterday. Pay attention to the support around 2420 here; if it pulls back here, look to buy bullish, targeting 2500, 2600, and 2700. The important resistance area is around 2800; standing above this point means the bulls have a great opportunity to start a real counterattack plan. Otherwise, relying solely on presidential calls is just a drop in the bucket!
What about altcoins?
The overall sentiment in the cryptocurrency market is also beginning to warm up, with several altcoins rising in tandem.
- Ethereum's long-awaited gains have exceeded BTC. I don't know if this is a good thing; does it mean that the cheaper strategic reserves rise more?
- With the favorable news of SOL regarding the ETF and strategic reserves, it has risen directly from 140 to its current level of 180. The sentiment has returned, and any pump is positive;
- ADA and XRP received direct mentions, skyrocketing immediately, proving to be incredibly strong every time there’s a pump;
Sweet girl believes the phase of altcoin trading has arrived. During the upcoming oscillation period for Bitcoin, the hotspots for altcoins will continue to perform! Don't be greedy or timid; go in when it's right and exit when it’s time.
AI/RWA/L1/DeFi/Consensus MEME, these several directions are still the main lines of speculation and hotspots.
That being said:
Although this wave of market activity is intense, it fundamentally relies on Trump’s announcements and market FOMO sentiment, which are short-term favorable news. In the medium to long term, macroeconomic and policy uncertainties still exist.
What truly determines whether large funds can continuously enter the market is the elimination of macro and policy uncertainties; otherwise, the short-term market is still dominated by emotions.
This month's market should mainly focus on the two weeks leading up to the March 20 Federal Reserve meeting. Pay attention to potential turning points.
This month's focus is on positive news:
- The tariff policy will be implemented on March 4, and the exhaustion of negative news may turn into positive news. Bitcoin plummeted to $78,000 the day before yesterday, which has already released some pressure.
- On March 5, Trump will give a speech.
- On March 7, the White House will hold a cryptocurrency summit. The market expects there may be significant movements before the summit, but one should also be wary of wash trading and it is advisable to wait for new entry points.
Sweet girl recommends the wealth coins that have performed well recently.
➤ Cardano ($ADA)
Trump's report immediately felt the impact on Cardano.
In just one hour, ADA rose from about $0.64 to a peak of $1.10.
With the acknowledgment of the strategic reserves, speculation is likely to push ADA to new heights.
Despite the recent explosive growth, ADA is still trading at 66% of its shares recorded here, indicating there is still plenty of room for further growth.
The upcoming days are crucial for understanding the market's reaction and more details regarding Trump's strategic cryptocurrency reserve. One thing is certain: Cardano is back in the spotlight.
