- The cryptocurrency markets fell by $17.4 billion, bringing the total to $2.87 trillion on Friday, with losses tapering off to their lowest point this week.
- XRP regained the $2.50 mark following the confirmation of Ripple CEO Brad Garlinghouse’s participation at the White House Summit.
- Bitcoin’s price peaked at $91,200 after former President Trump announced a new Bitcoin reserve strategy.
- Sentiment in the derivative markets appears bearish, with $382 million in long positions liquidated, accounting for 73% of the day’s total losses.
Updates on Bitcoin Market:
On Friday, Bitcoin’s price demonstrated significant volatility, fluctuating within a 10% range between $84,600 and $91,280 throughout the daily candle. The announcement of a strategic Bitcoin reserve by former President Trump did not result in a market surge, particularly due to the stipulation that the reserve would be funded by BTC seized through legal disputes and forfeitures.
- Bitcoin ETFs experienced another $134 million in outflows on Thursday, contributing to the challenges faced by BTC in surpassing the $92,000 resistance level.
Blackrock’s IBIT ETF returned to a sell-off mode with $50 million in outflows on Thursday, following a brief halt in a seven-day selling streak due to $38 million in inflows on Tuesday.
Updates on Altcoin Market: XRP, Cardano, and Solana Maintain Key Support Levels During White House Summit
The overall crypto market declined by 4.8% on Friday, reflecting $150 billion in outflows. This latest downturn was largely triggered by unfavorable reactions to hawkish indicators in the recently published US Non-farm Payrolls report.
Instead of a mass exit from the markets, the performance overview indicates that investors are hesitant to abandon leading altcoins such as Cardano, Ripple (XRP), and Solana (SOL) as their prices approach important support levels.
The White House Crypto Summit is projected to emphasize enhanced regulatory clarity for the cryptocurrency sector, with many hopeful for significant advancements for tokens associated with the crypto strategic reserve.
- Ethereum’s price fell to as low as $2,100 following the US NFP data, but bulls made urgent attempts to reclaim $2,140 as of the latest update.
- Ripple (XRP) maintains a steady position above $2.40, bolstered by positive expectations surrounding Ripple’s CEO’s presence at the White House Crypto Summit.
- Cardano (ADA) has recouped significant losses over the past 24 hours, trading above the $0.80 mark at the moment.
- Solana (SOL) has also established a foothold above $142 as traders adopt a cautious stance, awaiting new policy developments from the Trump administration’s discussions with key figures in the crypto sector.
Chart of the Day: Long-term Bitcoin Holders Disturbed by Trump’s Recent Policies
Long-term holders of Bitcoin seem unsettled due to mixed market signals stemming from the latest policy updates from former President Trump.
On Thursday, the crypto advisor David Sacks confirmed an executive order mandating that confiscated BTC be included in the national strategic reserve.
Despite this seemingly positive policy development, Bitcoin’s price dropped by 5%, falling below $85,000 on Friday, driven by concerns over hawkish signals in the US Non-farm Payrolls (NFP) report and inflation risks linked to recent trade tariffs.
The market response indicates that macroeconomic uncertainty is overshadowing optimism surrounding Trump’s pro-crypto strategies.
This perspective is further validated by Bitcoin’s recent decline correlating with increased selling pressure from long-term investors.
Santiment’s Age Consumed metric, which tracks the total movement of coins based on their dormancy period, has shown persistent spikes since Trump’s tariff announcement on February 25.
As illustrated in the chart, the Bitcoin Age Consumed surged to 29.4 million following the initial tariff announcement and has remained elevated since then.
On Friday, coinciding with the US Bureau of Labor Statistics releasing the latest NFP report, Age Consumed spiked to 15.9 billion, representing a 450% increase from the 2.8 million noted on February 6.
The influx of long-held BTC into the market raises the short-term supply and heightens the risk of a decline.
This dynamic explains why Bitcoin has struggled to reclaim the $92,000 mark, even with the positive sentiment generated by Trump’s strategic reserve announcement.
Given the current market conditions, until macroeconomic anxieties diminish, BTC traders may focus on capturing short-term gains instead of committing to long-term holds.
Recent Crypto News Updates:
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Senator Warren Calls for Public Disclosures from David Sacks Amid Ongoing Crypto Policy Discussions
Senator Elizabeth Warren has requested that David Sacks, the newly appointed crypto policy head, publicly share his financial disclosures to eliminate any potential conflicts of interest.
This request follows Trump’s executive order to establish a US Strategic Bitcoin Reserve and introduce fresh crypto regulations, raising alarms about possible market manipulation and regulatory leniency.
Sacks has rebutted claims of holding significant indirect crypto assets and mentioned that he had liquidated all personal cryptocurrency investments before taking office.
He reiterated his commitment to transparency, noting that his financial disclosures are currently under an official ethics evaluation.
Warren’s demand highlights the growing scrutiny surrounding the administration’s crypto regulations as discussions of regulatory oversight progress in Washington.
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Plans for 24-Hour Trading at Nasdaq Set for 2026
Nasdaq has announced intentions to introduce around-the-clock trading on its equities exchange by the latter half of 2026, contingent upon regulatory approval.
This initiative seeks to address the rising global demand for US stocks and align with similar endeavors by exchanges like Cboe and the New York Stock Exchange.
If authorized, this change would substantially transform market structure, allowing investors to trade continuously across various time zones.
While this proposal has sparked concerns about potential volatility and increased transaction costs, Nasdaq plans to collaborate closely with industry participants to mitigate risks. Measures will be implemented to ensure liquidity and build investor confidence during extended trading hours.
This shift reflects a broader trend towards around-the-clock access in financial markets, responding to evolving investor behaviors and advancements in trading technologies.
Coinbase Executive Suggests Trump’s Bitcoin Reserve Could Alleviate $18 Billion in Selling Pressure
In a recent post, a Coinbase executive indicated that the executive order signed by former President Trump to create a Strategic Bitcoin Reserve might reduce approximately $18 billion in potential selling pressure in the market.
Coinbase Executive on market impacts of Trump’s Bitcoin strategic reserve.
This initiative aims to retain Bitcoin seized by the US government, preventing it from being liquidated in public auctions.