Bitcoin Retreats Below $90K as Trump’s Crypto Reserve Buzz Fades
Markets erupted Sunday after President Trump hinted at a U.S. crypto reserve, but the euphoria is already cooling off as traders reassess the announcement.
Bitcoin (BTC) soared to $95,000 following Trump’s social media post, which named BTC, ETH, SOL, XRP, and ADA as potential reserve assets. However, the rally has since faded, with BTC slipping 5% in the past hour to trade at $89,500. While still above its pre-announcement level of $85,000, the momentum appears to be stalling.
Altcoins, including Ethereum and Solana, initially saw major gains but have also surrendered a portion of their upside. Some analysts remain skeptical about whether the government will actually acquire these assets or if the announcement was more political than practical.
BitMEX founder Arthur Hayes dismissed the hype, saying, “Until there’s real funding, this is just talk. No money, no buys.”
Lekker Capital CIO Quinn Thompson was even more blunt, arguing that “legitimizing two of the biggest grifts in crypto history doesn’t help the space. Either Trump’s team is clueless or compromised.”
Traders are now bracing for a potential “sell the news” event, with some already taking profits. The broader crypto market is cooling off, and related stocks—including Coinbase (COIN), Strategy (MSTR), Semler Scientific (SMLR), and Hut 8 (HUT)—are also pulling back after an early surge.
About The Author
More Stories
Bitcoin drops under $71,000 while stocks end the day near session lows as expectations for a 2026 Fed rate cut dim further.
Fed pauses rate changes as the Iran conflict clouds the economic outlook and fuels inflation fears.
Cheap money is now behind us as ongoing conflict with Iran locks in a higher baseline for inflation.