Amidst cryptocurrency market volatility, Bitcoin demonstrated relative stability while altcoins like Solana and Cardano saw significant price drops. Attention has also been drawn to potential U.S. Bitcoin Strategic Reserve creation.
Liquidations and Altcoin Decline
Over the past 24 hours, the cryptocurrency market experienced sharp sell-offs and widespread liquidations. More than 386,000 traders were liquidated, with total liquidations amounting to approximately $1.28 billion. Bitcoin fell by 2.2%, remaining relatively stable compared to major altcoins like Solana and Cardano, which dropped over 9% and 5% respectively. Analysts note ongoing volatility linked to U.S. rate expectations.
Speculation Over U.S. Bitcoin Strategic Reserve
Amid market instability, there is speculation regarding the potential creation of a U.S. Bitcoin Strategic Reserve. According to Polymarket, there is a 38% chance that President Donald Trump will sign an executive order to establish such a reserve. However, experts caution that implementing this initiative requires regulatory collaboration.
World Liberty Financial Expands Crypto Holdings
World Liberty Financial (WLFI), associated with President Trump, has expanded its cryptocurrency holdings. On his first day in office, the project acquired $112.8 million in digital assets, including $47 million each in Ether and Wrapped Bitcoin, as well as Aave, Chainlink, and other tokens. Tron DAO has deepened its involvement with WLFI, increasing its total stake to $75 million.
Despite volatility, the crypto industry continues to evolve, with focus shifting between governmental initiatives and high-stakes investment moves by key players.