The crypto community eagerly awaits the first-ever White House Crypto Summit on March 7. It is expected to detail the US President Donald Trump’s planned crypto reserve, which includes Bitcoin, Ether, XRP, Solana, and Cardano.
Introduction to the Summit and Crypto Reserve
The inaugural White House Crypto Summit is set to discuss the specifics of creating a national crypto reserve. Initially, Trump announced plans to include Bitcoin, Ether, XRP, Solana, and Cardano, though many experts speculate that Bitcoin will hold a special status. As US Commerce Secretary Howard Lutnick noted, Bitcoin is likely to have a particular place in the national crypto reserve.
Bitcoin Price Analysis
Bitcoin's price rebounded from its recent sell-off, with a positive signal being that it didn't close below the 20-week exponential moving average ($90,664). Bullish momentum could lead to a retest of the all-time high at $109,588. However, if the price fails to hold above $100,000, it could retrace to the $75,543 level.
Ethereum Price Analysis
Ether has formed a large range between $2,111 and $4,094. Recent dips below $2,000 revealed buying interest at lower levels. A weak rebound from $2,111 may suggest waning demand, increasing the breakdown risk to $1,500. However, maintaining above moving averages could propel the price to the range top at $4,094.
The White House summit might be pivotal for the crypto economy in the US. Initiatives discussed there will shape the sector's future and determine subsequent movements in major cryptocurrencies.
