empty
03.03.2025 10:57 AM
What lies behind sudden surge in Bitcoin and Ethereum

The sudden bullish turnaround in the cryptocurrency market has created significant panic and speculation.

This image is no longer relevant

Yesterday, Donald Trump's latest post reaffirmed his commitment to restoring America's leadership in the crypto industry. Trump accused Biden's administration of deliberately suppressing the crypto industry's growth, stating that his executive order on digital assets includes the creation of a strategic cryptocurrency reserve. He also revealed details about this reserve, which, in his view, should include leading cryptocurrencies such as BTC, ETH, XRP, SOL, and ADA. Trump expressed confidence that the US can reclaim its position as the global leader in digital assets.

According to Trump, establishing a national crypto reserve will be crucial for stabilizing the digital asset market and protecting American investors' interests.

As mentioned earlier, Trump's announcement of a strategic US crypto reserve led to a rapid surge in crypto prices, increasing the total crypto market capitalization by nearly 20% compared to Friday's recent lows. The biggest gainers were Cardano (+70%), XRP (+35%), and SOL (+20%). Meanwhile, BNB saw the smallest growth among the top 10 cryptocurrencies by market capitalization.

Trump's executive order & crypto boom Trump signed an executive order on cryptocurrencies back in January, instructing a task force to assess the creation of a national digital asset reserve. However, Sunday's post was the first time he explicitly referred to it as a "strategic cryptocurrency reserve." This move is likely aimed at strengthening the US economy and reducing reliance on traditional financial institutions.

The creation of a US crypto reserve could be a response to the growing global adoption of digital assets, particularly China's development of a digital yuan. Such a move could further fuel demand for crypto assets, as building a national digital asset reserve would require significant investments in infrastructure and regulation.

This image is no longer relevant

Technical outlook for Bitcoin (BTC/USD)

Buyers are now targeting $93,600, which would pave the way for $95,700, followed closely by $98,000. The ultimate bullish target remains at $100,000, a breakout above which would confirm a return to the medium-term bull market. In case of a decline, buyers are expected at $91,300. A break below this level could push BTC further down toward $89,300, with the final downside target at $86,900.

This image is no longer relevant

Technical outlook for Ethereum (ETH/USD)

A strong break above $2,467 opens the door for a move toward $2,522. The ultimate bullish target remains at $2,581, a breakout above which would signal a return to the medium-term bull market. If ETH declines, buyers are expected at $2,384. A move below this level could push ETH down toward $2,299, with the final downside target at $2,202.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Another Consolidation Before a Drop

Bitcoin and Ethereum continue their attempts to rise, but each time they face obstacles, suggesting that this is more of a consolidation phase within an ongoing bearish correction rather than

Jakub Novak 12:25 2025-03-14 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 14

Bitcoin and Ethereum are currently consolidating within channels, creating conditions that may lead to further declines. While many experts agree that the lows have already been reached and an unstoppable

Miroslaw Bawulski 08:20 2025-03-14 UTC+2

Technical Analysis of Intraday Price Movement of Uniswap Cryptocurrency, Friday March 14, 2025.

From what is seen on the 4-hour chart of the Uniswap cryptocurrency, although currently still under pressure, is indicated by its price movement moving below the EMA (21) which

Arief Makmur 07:03 2025-03-14 UTC+2

Technical Analysis of Intraday Price Movement of Doge Cryptocurrency, Friday March 14, 2025.

With the appearance of Convergence between the price movement of the Doge cryptocurrency and the Stochastic Oscillator indicator, it gives an indication that in the near future Doge

Arief Makmur 07:03 2025-03-14 UTC+2

Bitcoin and Ethereum Buyers Struggle to Gain Control

Bitcoin continues its recovery after the major sell-off at the beginning of the week. However, yesterday's failure to break the weekly high casts doubt on the short-term bullish outlook

Jakub Novak 10:22 2025-03-13 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 13

Bitcoin and Ethereum are locked within new channels. On the positive side, the intense selling pressure observed at the beginning of the week has subsided. However, there are concerns about

Miroslaw Bawulski 08:05 2025-03-13 UTC+2

Bitcoin Prepares for a Comeback

As Bitcoin and Ether bounce back strongly from their yearly lows, this indicates that the bull market is not finished yet. In this context, Senator Cynthia Lummis has reintroduced

Jakub Novak 23:59 2025-03-12 UTC+2

Bitcoin Depends on Sentiment in the U.S. Stock Market

The cryptocurrency market has seen a slight recovery after another sell-off earlier this week. However, the situation remains tense, and selling pressure could return at any moment

Jakub Novak 10:24 2025-03-12 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 12

Bitcoin and Ethereum have experienced a slight recovery after another sell-off, reaching new yearly lows. The panic seen in both the U.S. stock market and the cryptocurrency market has paused

Miroslaw Bawulski 08:03 2025-03-12 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 11

Bitcoin and Ethereum have both reached new annual lows, mirroring a decline in the U.S. stock market, which has now fallen for the fourth consecutive week. Yesterday, the crypto market

Miroslaw Bawulski 09:03 2025-03-11 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.