Bitcoin Surges $10K in Day, Trump's Crypto Reserve Sparks Global FOMO

The crypto market has witnessed a significant surge in recent days, with Bitcoin leading the charge. The cryptocurrency gained more than $10,000 in a single day, following an announcement regarding a crypto strategic reserve. This announcement has sparked speculation about a potential "global FOMO" (fear of missing out) and a possible rally in the Bitcoin price.

The crypto market cap has risen back above $3 trillion after a brief sell-off. The sell-off and the subsequent upswing were both triggered by U.S. President Donald Trump. The imposition of tariffs led to a plunge in the crypto markets, with the BTC price falling below $79,000. However, the announcement of a crypto strategic reserve, which includes Bitcoin, Cardano, XRP, and Solana, has led to a surge in the price, pushing it back above $95,000.

President Trump's announcement has been met with mixed reactions. Some, like Senator Lummis, have suggested that this could mark the beginning of a "crypto war." Meanwhile, China is reportedly holding a secret, closed-door meeting to discuss the same topic. However, the primary motivation behind this move appears to be bolstering the U.S. economy, which is currently grappling with a national debt of over $36.2 trillion.

The announcement seems to have been influenced by an analysis that crypto is a magnet for investors. Following the announcement, more than $300 billion has flowed into the markets. Moreover, the claim of making the U.S. the crypto capital of the world is expected to attract crypto investors who could potentially invest $5 million to gain U.S. citizenship. This move validates the growing crypto adoption across the globe.

The Bitcoin price witnessed a remarkable jump during the past weekend, surging above $95,000 from its local bottoms. While the price action closed the CME gap between $80,670 and $78,000 to a large extent, it has created a major gap instead. The start of the monthly trade was marked by a bullish rebound, followed by a 12% jump. However, this 12% jump has formed a huge gap on the CME, and the price is now expected to correct to fill the gap.

As seen in the chart, the BTC price faced a pullback and is