Trump continued to speak at the Blockworks Digital Assets Summit in New York. However, contrary to expectations, the amplitude of BTC, ETH and XRP dropped significantly, rather than price increases.
Trump’s speech at Blockworks Digital Assets Summit
Yesterday, President Donald Trump Formal speech Cryptocurrency enthusiasts at the Blockworks Digital Assets Summit in New York. In his speech, Trump announced that the United States is expected to “dominate encryption and the next generation of financial technology.”
Trump details several key moves his administration has taken to support this ambitious goal of crypto markets. Some key moves were Trump’s executive order, which established strategic Bitcoin reserves and his speech at the White House Digital Assets Summit. In addition, Trump said it was his effort to change the Biden administration’s “regulatory war between crypto and Bitcoin.”
Source: The New York Times
Importantly, at this summit, he stressed that establishing the right legal framework and promoting the U.S. work in the cryptocurrency sector could revolutionize the country’s banking and payment systems and enhance privacy, security and security. A key element of his strategy is leveraging dollar-backed Stablecoins, which he said will strengthen and expand the dollar’s global advantage.
Crypto community buzzes after news
The top coins like BTC are in contrast to expectations after Trump’s latest speech BTCeth ethand xrp XRP Although it seemed to be positive news, it turned red. BTC fell from nearly $87,000 to $83,000, ETH fell below $2,000, and XRP fell 3.7%, marking a significant drop in all three top coins.
It is worth noting that this is not the first time it has happened. On March 7, when Trump spoke about the Strategic Reserve Fund and announced plans to increase his BTC holdings, the price and market capitalization of Bitcoin remained down 5% to below $85,000.
Soucre: Encrypted bubble
Since Trump took office, along with a series of confusing tariff policies, the cryptocurrency market has been in a red state, with many top coins falling sharply.
This reflects the instability of the market and the “sell news” mentality. This happens when investors buy in large quantities in anticipation of good news, but sell after the announcement, causing the price to drop. It also highlights the sensitivity and responsiveness of crypto markets to political and macroeconomic uncertainty.
Learn more: A comprehensive review of Trump’s speech in Congress today
