After Donald Trump was re-elected and promoted cryptocurrency-friendly policies, the crypto market has witnessed several notable fluctuations. Here are the key points:
1. Strategic Bitcoin Reserve of the United States: Trump signed an executive order in early March 2025 to establish the "Strategic Bitcoin Reserve" with about 200,000 BTC from seizures in civil and criminal cases. In addition, a "Digital Asset Stockpile" was also created for other cryptocurrencies such as Ether (ETH), XRP, Solana (SOL), and Cardano (ADA). However, the market initially reacted not very positively because the U.S. did not buy more Bitcoin but only used the seized coins, causing the price of Bitcoin to drop slightly before stabilizing around $80,000.
2. Crypto Conference at the White House: On March 7, 2025, Trump hosted the Digital Asset Summit at the White House, gathering industry leaders such as Michael Saylor and senior officials like David Sacks (AI and Crypto Advisor to the White House). Trump reaffirmed the goal of making the U.S. the "cryptocurrency capital of the world" and emphasized the role of stablecoins in maintaining the USD's position. However, concerns about Trump's tariff policies have put pressure on market sentiment, causing major coins not to rise as strongly as expected.
3. Recent price fluctuations
- Before the conference, the price of Bitcoin had surpassed $90,000 due to expectations that the U.S. would actively buy BTC, but after the details of the order were announced, the price fell to around $80,000 - $86,000 in the past week. As of March 20, the price of BTC slightly increased ahead of Trump's upcoming speech at the Digital Asset Summit (DAS) in New York.
- Other coins like ETH, XRP, SOL, and ADA also experienced slight fluctuations but have not seen major breakthroughs, influenced by cautious sentiment related to Trump's macroeconomic policies, especially tariffs.
