Bitcoin Surges Past $90,000 as U.S. Strategic Reserve Looms

Bitcoin surged above the $90,000 mark on March 5, 2025, marking a significant milestone in its trading history. The cryptocurrency climbed approximately 10% in 24 hours, reaching an intraday high of $90,500 in early afternoon trading UK time. This latest rally comes after a week of volatility, during which Bitcoin experienced a dip below $83,000 following Trump's tariff announcement.

Analysts have attributed the recent price surge to several factors. First, Commerce Secretary Howard Lutnick reportedly confirmed that Trump will announce a U.S. strategic reserve for Bitcoin, which has boosted investor confidence. Second, the global cryptocurrency market capitalization has increased by 3.5% to reach $2.92 trillion, indicating a broader market trend. Lastly, investors are anticipating Friday's crypto summit, which may bring further clarity on the regulatory landscape.

Despite the recent gains, some traders have warned that the bullish momentum may not last. Crypto trader Justin Bennett cautioned that a rejection at the $92,000 monthly resistance could lead to a sweep of the $78,260 lows. Rekt Capital highlighted Bitcoin's two consecutive weeks of downside deviations, but a weekly close above $93,500 would signal strength and reclaim key support with a higher low forming.

Meanwhile, other analysts have drawn parallels to the crypto market's performance in Q1 2017, when Bitcoin experienced 2-3 months of sideways trading under Trump before a parabolic rally from April to December. Crypto trader MaxBecauseBTC noted that as the DXY declines, Bitcoin could follow a similar bullish trajectory if history repeats itself. Jelle sees Bitcoin attempting another push towards $90,000, stating that a successful reclaim of resistance would confirm a massive deviation of range lows.

As Bitcoin struggles to stay above the $90,000 mark, investors and traders alike are closely monitoring the cryptocurrency's performance. The upcoming crypto summit and any further announcements regarding the U.S. strategic reserve for Bitcoin are likely to influence the market's trajectory in the near future.