The crypto market is preparing for volatility ahead of the digital currency summit at the White House. Trump's announcement of a strategic reserve has triggered varied market reactions.
Impact of the Summit
The White House summit is expected to heighten market volatility as investors watch for announcements from Washington. Bitcoin has shown sharp price fluctuations over the past week, illustrating current market instability.
Expected Price Movements
According to Deribit, investors expect sharp price movements over the weekend. Bitcoin's option volatility has shown a significant increase in anticipation of the summit. Analysts predict Bitcoin price swings of approximately $5,000 in either direction.
State of Leading Cryptocurrencies
Bitcoin trades at $92,340 with resistance at $93,581. Ethereum shows signs of recovery, holding above $2,200. XRP and Solana continue to consolidate awaiting further news.
The crypto market is poised on the brink of significant shifts. Potential announcements from the White House could profoundly impact market trends, and investors are keenly watching the developments.
