Trump's Bitcoin Reserve Plan Triggers Major Crypto Market Drop

Major cryptocurrencies like $XRP, $DOGE, and $ADA took a dive of up to 9% in just 24 hours. T reason? President Trump’s announcement of a Bitcoin Strategic Reserve, which left traders feeling a bit deflated. Instead of a diverse crypto buffet, we got a one-item menu: Bitcoin.

TL;DR

- Major cryptocurrencies plummeted, losing up to 9% after Trump focused solely on $BTC in his reserve announcement.

- Traders had hoped for a broader crypto strategy, but now they’re bracing for a cautious White House Crypto Summit.

On Thursday night, Trump directed his team to create a reserve for seized $BTC. This reserve will also include a “crypto stockpile” for any other digital currencies the government might snag. Traders were riding high on optimism, dreaming of a treasure trove that included $XRP, $ADA, $ETH, and $SOL. But those dreams evaporated faster than a blockchain transaction.

Earlier in the week, $DOGE had its moment in the sun, surging 12% thanks to Bitwise’s ETF filing. Traders fantasized about $DOGE being part of Trump’s grand plan—until reality crashed the party. Even $BTC wasn’t spared; it dropped 4.5%, sliding from over $93,000 to under $88,000.

Now, all eyes are on the upcoming White House Crypto Summit. But traders aren’t exactly holding their breath for any game-changing news. Nick Ruck from LVRG Research summed it up nicely: “Expectations are low after the reserve announcement.”

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