Trump's Crypto Reserve Shocks Market, Bitcoin Tops $95K

The US Crypto Strategic Reserve, a long-awaited initiative by President Donald Trump, has sent shockwaves through the crypto market, with prices soaring and intense speculation about the future of the bull market. The Reserve, which includes US-based assets like XRP, Solana, and Cardano alongside Bitcoin and Ethereum, has sparked debate among industry players and analysts.

The announcement of the Reserve on Sunday led to a surge in crypto prices, with Bitcoin temporarily reclaiming the $95,000 level. Ethereum, XRP, Solana, and Cardano also posted significant gains. However, the major cryptocurrencies failed to flip key resistance levels, and bullish momentum has since stalled. Prices are now retesting critical support levels, leaving the market uncertain about the Reserve's long-term impact.

Trump's crypto and AI czar, David Sacks, has revealed that more details about the Reserve will be unveiled at the White House Crypto Summit on March 7th. The event is expected to bring significant market volatility. Additionally, the White House has announced that President Trump will make an important "investment announcement" today, which many believe is connected to the Reserve or the newly created Sovereign Wealth Fund.

Despite the initial rally, major industry players remain unconvinced by the idea of the Crypto Strategic Reserve. Even Trump supporters like Jason Calacanis, Ryan Selkis, David Bailey, and Nic Carter have expressed strong opposition, particularly regarding the inclusion of XRP, Solana, and Cardano. Prominent philosopher-investor Naval Ravikanth believes the Reserve could lead to American taxpayers exiting liquidity for crypto whales.

Several hurdles still stand in the way of the Reserve's creation. Arthur Hayes, founder of BitMEX and CIO of Maelstrom Fund, claims that Trump's announcement is not new, as he had already ordered his Presidential Working Group to explore a Crypto Strategic Reserve. The President would still need the support of the US Congress to borrow money for the reserve, which could impact the Reserve's pricing in the market.

The Bitcoin price soared by more than 10% following Trump's announcement but failed to flip the $96,300 resistance. Prominent analyst Ali Martinez believes that a failure to surge past its 50-day SMA could result in a drop below its 200-day SMA. Altcoins like