Crypto Prices Rebound With Bitcoin Above $84K as Trump’s Summit Sparks Market Optimism

Bitcoin Rallies Past $84K as Market Sentiment Shifts Amid Trump’s Crypto Summit Announcement

After suffering its worst month in three years, the cryptocurrency market is showing signs of a rebound. Bitcoin (BTC) has climbed back above $84,400, recovering from last week’s low of $78,000. The broader market, which lost over $400 billion in capitalization during the downturn, is also stabilizing.

The Crypto Fear & Greed Index, which dropped to 10—a level last seen during the 2022 bear market—has rebounded to 20, though it remains in “extreme fear” territory. Over the past 24 hours, BTC has gained more than 3%, while the CoinDesk 20 Index (CD20) rose 1.5% to 2,700. However, Solana (SOL) is down nearly 3%, slightly weighing on the index’s performance.

Trump’s Crypto Summit Sparks Optimism

The market’s turnaround coincides with news that former U.S. President Donald Trump will host a crypto-focused summit on March 7. The event will bring together industry leaders, including CEOs, founders, and key investors, alongside members of the President’s Working Group on Digital Assets.

Trump’s administration has recently taken a more favorable stance toward crypto, with regulators scaling back enforcement actions. The SEC has dropped lawsuits against Coinbase and Consensys, while also halting investigations into major players like Robinhood, Gemini, Uniswap Labs, and OpenSea.

BlackRock Expands Bitcoin Exposure with IBIT Model Portfolio Inclusion

Another key factor driving positive sentiment is BlackRock’s decision to include its iShares Bitcoin Trust (IBIT) in one of its model portfolios. The asset manager allocated 1% to 2% to IBIT in its alternative asset portfolio, a move that could influence investment advisors and institutions to increase Bitcoin exposure.

This marks the first time BlackRock has added IBIT to its model portfolios, a significant step toward Bitcoin ETF adoption among traditional investors. With approximately $150 billion in assets under management in these portfolios as of December 31, 2024, this decision could signal growing institutional confidence in Bitcoin as a legitimate asset class.