Key Points
- President Trump’s Strategic Crypto Reserve announcement impacts market, Bitcoin sees negative returns for first time since 2014.
- Traders anticipate White House Crypto Summit on March 7, following market reactions to Bitcoin, Ethereum and US altcoins.
President Trump’s declaration of the Strategic Crypto Reserve caused significant market fluctuations, leading to traders becoming risk-averse following Monday’s pump and dump. For the first time since 2014, Bitcoin ended February with the most negative returns, down 17.39%.
Strategic Crypto Reserve
Bitcoin (BTC), Ethereum (ETH), and the US category of altcoins such as XRP, Solana (SOL), Cardano (ADA) form part of the strategic reserve. The announcement initially sparked optimism among market participants before fear set in, resulting in over $1.07 billion in liquidations on Monday. As traders grapple with the aftermath of these events, they look forward to the White House Crypto Summit scheduled for March 7.
Top 5 US Altcoins
The top five picks in the US category, based on their price trend and on-chain analysis, include XRP, Solana, Cardano, Chainlink (LINK), and Stellar (XLM). The focus on “made in USA” stems from emerging regulatory clarity for meme coins, AI tokens, and cryptocurrencies in the US, along with robust infrastructure and support for blockchain innovation under the new administration.
In mid-February 2025, Nansen analysts reported on the rise of the “made in USA” narrative and top tokens in the category, reinforcing US dominance in the crypto ecosystem. Among other tokens, Pi Network (PI) rose to top 20 tokens by market capitalization in the past few weeks, with notable developments in the project. Hedera (HBAR), Avalanche (AVAX), and Sui (SUI) are other key tokens in the category.
Price Targets and Analysis
The XRP/USDT daily price chart indicates the altcoin’s buy zone is between the 50-day and 100-day Exponential Moving Averages (EMAs), between $2.3020 and $2.5203. Solana trades at $147.78 at the time of writing and is close to its long-term support at $150. Cardano trades at $0.9973 at the time of writing, with its buy zone located between $0.9837 and $0.8235.
White House Crypto Summit
Crypto traders have responded to announcements from the White House and President Trump. The upcoming White House Crypto Summit on March 7 is a key market mover, and traders are positioning themselves for anticipated price swings. The summit will involve discussions on policy issues, crypto regulation, support for blockchain innovation, and regulatory frameworks for digital assets.
Derivatives Analysis and Institutional Interest
Analysis of derivatives market data shows a significant spike in Open Interest (OI) in the top five cryptocurrencies. Bitcoin analysis shows the long/short ratio exceeds 1 on Wednesday, indicating traders are betting on a further gain in the token’s price this week. Ethereum also notes similar activity, with OI climbing nearly 3% and Options OI climbing nearly 6%.
Institutional interest in Bitcoin has waned while Ethereum recorded its first positive day of netflows on Tuesday. For Ethereum, ETFs recorded over $14 million in net flows, indicating a revival in interest among institutional investors.
Expert Commentary
Agne Linge, Head of Growth at WeFi, commented on the intense market volatility and the decline in Bitcoin and Ethereum prices. David Morrison, Senior Market Analyst at Trade Nation, noted the violent swings in cryptocurrencies and highlighted the boost in cryptos following President Trump’s plans to establish a strategic crypto reserve. Experts emphasize the importance of the upcoming summit on Friday and its potential impact on Bitcoin, Ethereum, and altcoin prices.