Bitcoin eyes fresh highs as Trump's crypto reserve plan fuels market rally

The crypto market, which has been volatile, gained strong momentum on Monday, with Bitcoin, the leading cryptocurrency, surging nearly 10 per cent to reach $95,043.44.

 

The upward trend in cryptocurrencies followed the announcement by US President Donald Trump that Bitcoin (BTC), Ripple (XRP), Solana (SOL), Cardano (ADA), and Ethereum (ETH) would be included in the US Crypto Strategic Reserve.

 

Following the news, other cryptocurrencies also posted strong gains, with Ripple (XRP) rising 35 per cent to $2.9990, Solana (SOL) increasing 18 per cent to $169.88, Cardano (ADA) climbing 60 per cent, and Ethereum (ETH) seeing a 10 per cent rise, according to data sourced from Binance.

 

 

Earlier, on Sunday, March 2, 2025, Trump, in a post on Truth Social, said, "A US Crypto Reserve will elevate this vital industry after years of corrupt attacks by the Biden Administration. My Executive Order on Digital Assets directed the Presidential Working Group to establish a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will ensure the US becomes the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!"

 

He added, "Of course, BTC and ETH—two of the most valuable cryptocurrencies—will be the core of this reserve. I also have a strong appreciation for Bitcoin and Ethereum!" 

 

Analysts weigh in

Market analysts see this as a defining moment for the digital asset industry, bringing a shift in market sentiment, and likely influencing global regulatory approaches.

 

The establishment of a US Crypto Strategic Reserve, Rachel Conlan, Global CMO of Binance, said, marks a defining moment for the digital asset industry. “By formally recognising Bitcoin, Ethereum, XRP, Solana, and Cardano, the US government is taking a strategic step toward integrating cryptocurrencies into its broader financial and economic framework,” said Conlan.

 

This move, Conlan believes, is likely to influence global regulatory approaches, encouraging other nations to explore similar initiatives and fostering a more structured environment for institutional participation.

 

“The market’s immediate response, adding over $300 billion in value, demonstrates the strong demand for clear and forward-thinking regulatory action. This initiative could drive greater liquidity, attract institutional capital, and establish crypto as a core asset class within traditional financial markets,” Conlan added.

 

Trump’s announcement on the strategic crypto reserve, Edul Patel, cofounder and CEO of Mudrex, a crypto trading platform, said, has boosted market sentiment. The inclusion of these cryptocurrencies in the US reserve, Patel believes, elevates these tokens beyond speculative assets, drawing in increased institutional capital, given that ETFs of Solana and XRP are waiting for approval with the SEC.

 

“After the past few weeks of consolidation, this news sparked renewed buying interest from both retail and institutional investors, showing a clear shift in market sentiment," Patel added.

 

Will Bitcoin Scale Fresh Highs?

The current market capitalization of Bitcoin stands at $1.84 trillion, making it the largest cryptocurrency by market cap in the world. Bitcoin scaled its all-time high of $109,114.88 on Jan 20, 2025.

 

If Bitcoin sustains above the $90,000 level, Patel believes that it can move toward $100,000 once again. "A positive outcome from Trump’s Crypto Summit on Friday could position Bitcoin for a new all-time high of $110,000," said Patel.