#活跃用户影响 Former U.S. President Donald Trump recently announced the establishment of the U.S. Strategic Crypto Reserve, causing significant market fluctuations. This move not only reignited market confidence in cryptocurrencies but also drew attention to the upcoming White House Crypto Summit this Friday.
Trump announces strategic crypto reserve, market heats up and then cools down: is the cryptocurrency facing a new direction?
Former U.S. President Donald Trump recently announced the establishment of the U.S. Strategic Crypto Reserve, causing significant market fluctuations. This move not only reignited market confidence in cryptocurrencies but also drew attention to the upcoming White House Crypto Summit this Friday.
Trump announced on Sunday (3/2) that the United States will establish a strategic crypto reserve, incorporating major cryptocurrencies such as Bitcoin, Ethereum, Ripple (XRP), Solana (SOL), and Cardano (ADA). He emphasized that this move will ensure the U.S. becomes the 'world crypto capital,' in stark contrast to the Biden administration's conservative stance on regulation. Compared to the Biden administration's strict controls on the crypto market—especially targeting fraud and money laundering—Trump's declaration shows an active embrace of digital assets.
The market reacted enthusiastically to this news. According to Coingecko data, the global cryptocurrency market cap increased by about $300 billion within just a few hours that day, with prices of major cryptocurrencies soaring. Among them, the price of Bitcoin broke through $94,164, rising by 11%, becoming the leader of this surge. The prices of Ripple (XRP), Solana (SOL), and Cardano (ADA) also achieved astonishing gains of 33%, 22%, and over 60%, respectively, showing a brief market recovery overall.
Former U.S. President Donald Trump recently announced the establishment of the U.S. Strategic Crypto Reserve, causing significant market fluctuations. This move not only reignited market confidence in cryptocurrencies but also drew attention to the upcoming White House Crypto Summit this Friday.
Trump announced on Sunday (3/2) that the United States will establish a strategic crypto reserve, incorporating major cryptocurrencies such as Bitcoin, Ethereum, Ripple (XRP), Solana (SOL), and Cardano (ADA). He emphasized that this move will ensure the U.S. becomes the 'world crypto capital,' in stark contrast to the Biden administration's conservative stance on regulation. Compared to the Biden administration's strict controls on the crypto market—especially targeting fraud and money laundering—Trump's declaration shows an active embrace of digital assets.
The market reacted enthusiastically to this news. According to Coingecko data, the global cryptocurrency market cap increased by about $300 billion within just a few hours that day, with prices of major cryptocurrencies soaring. Among them, the price of Bitcoin broke through $94,164, rising by 11%, becoming the leader of this surge. The prices of Ripple (XRP), Solana (SOL), and Cardano (ADA) also achieved astonishing gains of 33%, 22%, and over 60%, respectively, showing a brief market recovery overall.
At the same time, the market is closely monitoring the upcoming release of the latest non-farm payroll data for March in the U.S. In recent months, the non-farm payroll data in the U.S. has been strong. For example, in January this year, the number of jobs added reached 353,000, far exceeding market expectations, indicating that the labor market remains robust. Such economic indicators usually influence investors' allocations to risk assets.
If the non-farm payroll data falls below market expectations (for example, if job additions are below 200,000), it may indicate an economic slowdown, prompting the Federal Reserve to consider cutting interest rates, further driving up demand for risk assets such as Bitcoin and Ethereum. Lower interest rates typically reduce the cost of capital, pushing funds into risk markets and increasing market expectations for future economic stimulus policies, which is usually a positive catalyst for the cryptocurrency market.
Conversely, if the data shows that the job market remains strong (such as adding over 300,000 jobs), the market may expect the Federal Reserve to maintain tighter monetary policy, or even delay interest rate cuts, thereby putting pressure on risk assets such as cryptocurrencies. Strong employment data indicates that the economy is still overheating, and the Federal Reserve may choose to continue a high interest rate environment to curb inflation, which would lead to a decrease in market risk appetite, putting pressure on the prices of Bitcoin and other crypto assets.$XRP