Trump’s crypto reserve plan faces Congress vote, may limit rally
The crypto market surged after Trump’s reserve announcement, but analysts warned the rally may be temporary as regulatory hurdles remain.
Cryptocurrency markets surged following US President Donald Trump’s announcement of a potential strategic crypto reserve, but analysts cautioned that the rally may be short-lived.
On March 2, Trump said his Working Group on Digital Assets had been directed to include three altcoins — XRP (XRP), Solana (SOL) and Cardano’s ADA (ADA) — in the US crypto reserve, Cointelegraph reported. The reserve will “obviously” also include Bitcoin (BTC) and Ether (ETH), Trump added in another post on Truth Social.
The announcement triggered a marketwide rebound, with the global crypto market cap rising nearly 7% to $3.04 trillion, while Bitcoin breached the $95,000 psychological mark after a 7.7% intraday rally.
