Trump's 100-Day Crypto Plan: Bitcoin Reserve, Pro-Crypto Regulations Unveiled

President Trump's administration has unveiled a 100-day crypto plan, which includes the establishment of a national Bitcoin reserve and pro-crypto regulations. The plan, spearheaded by World Liberty Financial (WLFI), a crypto project backed by President Trump, involves the transfer of $307.4 million worth of digital assets to the Coinbase Prime exchange. WLFI has stated that these transfers are part of routine treasury management and not a sell-off of assets.

David Sacks, President Trump's special adviser on AI and cryptocurrencies, has called the evaluation of creating a Bitcoin reserve a priority. He described Bitcoin as an excellent store of value and emphasized the interest of members of the House and Senate banking and financial committees in creating a regulatory framework for cryptocurrencies within the next six months. Stablecoin legislation is expected to be a primary focus.

In addition, the US Sovereign Wealth Fund has been announced, raising speculation about the potential inclusion of Bitcoin (BTC). Crypto czar David Sacks has stated that one of the first priorities is stablecoins, and that digital asset regulation could be turned into legislation that can be moved through Congress in the next six months. Sacks has also described the US as entering a "golden age in digital assets," highlighting Bitcoin's role as an excellent store of value.

Despite recent volatility, Bitcoin is still generally following a downtrend but within a range of sideways movement since November 2021. There is some horizontal support at the current level, which may allow the price to bounce. If the price continues to fall, further support can be found at $95,000 and $92,000, with the major ascending trendline acting as a large ditch support.

Looking ahead, the continuation of the uptrend is more likely, given that the final stage of the bull run could come to an end towards the back end of this year. The US's potential inclusion of Bitcoin in its Sovereign Wealth Fund and the development of pro-crypto regulations could further boost the crypto market's growth and adoption.