The cryptocurrency market staged a strong recovery on Sunday following U.S. President Donald Trump's announcement of a U.S. crypto reserve.
Crypto Market Recovery
Bitcoin led the surge, reaching $94,000 before stabilizing around $92,604, marking an 8% gain over the past 24 hours. Altcoins also posted significant gains: Cardano (ADA) soared 60.8% to $1.06, XRP jumped 24.5% to $2.80, Solana (SOL) climbed 18.3% to $160.82, and Ether (ETH) gained 7.6% to $2,440.
Trump's Crypto Reserve Plan
The surge in market confidence follows a series of social media posts by President Trump, hinting at the inclusion of Solana (SOL), XRP, and Cardano (ADA) in the U.S. crypto reserve alongside Bitcoin and Ethereum. The White House teased further developments expected at the summit on March 7.
What's Next for the Market
With Trump's crypto-friendly stance more apparent, investors are eyeing potential regulatory clarity and institutional adoption. Bitcoin's next key resistance level is near $95,500, while altcoins may continue their upward momentum if positive news emerges.
March 7 could mark a pivotal moment for the crypto industry with anticipated initiatives from the Trump administration.
