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#Market_Update President Donald Trump's decision to establish official government cryptocurrency reserves in the US has drawn criticism from industry watchers.

He has signed an executive order creating what he calls a Strategic Bitcoin Reserve as well as a Digital Asset Stockpile, which will consist of other forms of digital currency.

The funds will be stocked with coins forfeited to the federal government as part of criminal or civil proceedings.

White House AI and crypto tsar David Sacks likened them to a "a digital Fort Knox for the cryptocurrency", drawing comparison to the Kentucky military base that stores a significant portion of US gold assets.

However, some crypto enthusiasts have criticised the government for not being bolder, while others have raised question marks about the lack of transparency over the process.

Sacks has ordered a full accounting of the federal government's existing crypto reserves, which he estimated at 200,000 Bitcoin alone. That's worth $17.5bn (£13.6bn) at today's prices.

Nonetheless, Charles Edwards of the Capriole Fund, a Bitcoin and digital assets hedge fund, called Thursday's announcement "a pig in lipstick" in response to Sacks' post on X.

"No active buying means this is just a fancy title for Bitcoin holdings that already existed with the government," he said.

Trump's executive order says that the Treasury and Commerce secretary will come up with strategies for acquiring more government Bitcoin, provided these are "budget neutral and do not impose incremental costs on United States taxpayers".

Jason Yanowitz, Co-Founder of crypto firm Blockworks, said the decision set a "horrible precedent" and "made no sense."

"Without a clear framework, we risk arbitrary asset selections, which would distort the markets and drive a loss of public trust," he suggested.

Other analysts though have been more positive.

"This approach makes much more sense than buying the assets," said Russ Mould, investment director at AJ Bell."

#BitcoinPolicyShift Bitcoin briefly tumbled more than 5% to below $85,000 following Sacks' post, and last changed hands at $88,109.
Trump's promise of a strategic reserve and expectations for easier industry regulation had seen the token surge to an all-time high at $109,071.86 in January.
"This is the most underwhelming and disappointing outcome we could have expected for this week," Charles Edwards, founder of Bitcoin-focused hedge fund Capriole Investments, wrote in a post on X.
"No active buying means this is just a fancy title for Bitcoin holdings that already existed with the Govt. This is a pig in lipstick."
Trump's moves to support the crypto industry, which spent millions of dollars backing him and other Republicans in the November elections, have drawn concern from some conservatives and crypto backers over giveaways to an already wealthy community and delegitimizing the digital currency industry.
Proponents argue that a reserve would help taxpayers benefit from crypto's price growth.
Sacks estimated the U.S. government owns about 200,000 bitcoin and premature sale of the cryptocurrency has cost the American taxpayer $17 billion. It was not clear how Sacks arrived at these estimates.
The president's support for the crypto industry has also sparked conflict-of-interest concerns. Trump's family has launched cryptocurrency meme coins, and the president also holds a stake in World Liberty Financial, a crypto platform.

$BTC The live Bitcoin price today is $87,950.57 USD with a 24-hour trading volume of $58,826,153,751 USD.

Bitcoin is down 4.32% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $1,744,358,772,725 USD. It has a circulating supply of 19,833,400 BTC coins and a max. supply of 21,000,000 BTC coins.

$XRP The live XRP price today is $2.55 USD with a 24-hour trading volume of $5,882,577,944 USD.

XRP is up 2.10% in the last 24 hours. The current CoinMarketCap ranking is #3, with a live market cap of $148,026,689,153 USD. It has a circulating supply of 57,949,738,512 XRP coins and a max. supply of 100,000,000,000 XRP coins.

#USCryptoReserve United States President Donald Trump on Sunday announced his government would create a national strategic crypto reserve that would include five cryptocurrencies, adding he would make the US “the crypto capital of the world”.

In a statement on his Truth Social network, Trump said a crypto working group, which was set up following his inauguration in January, is pressing forward with the reserve’s creation, fulfilling promises he first made to crypto lobbyists during his election campaign.

Following his Sunday announcement, values of the named currencies, including Bitcoin, soared, following what has been a weeks-long slump.

In his Sunday announcement, though, Trump criticised the Biden-era policies, calling them “corrupt”.

Trump said a “crypto reserve will elevate this critical industry after years of corrupt attacks by the Biden administration…I will make sure the US is the crypto capital of the world. We are making America great again.”

#MarketInsights Meanwhile, President Trump exempted certain automakers from the recent tariff hikes on Canada and Mexico. The exemption will reportedly be effective for one month, with Trump also receptive to exempting other goods from tariffs.

A softened tariff stance could help stabilize inflation and support a more dovish Fed policy, reducing uncertainty for risk assets.

On March 5, BTC rose 3.82%, adding to Tuesday’s 1.28% gain, closing at $90,639. Meanwhile, investor focus will return to the US economic calendar and tariff developments on Thursday, March 6.

US Jobless Claims: Economists forecast initial jobless claims to fall from 242k (week ending February 22) to 235k (week ending March 1), influencing the Fed rate path.

Tariff Developments: Rollbacks could drive demand for risk assets.

Potential price scenarios:

Bearish: Trade tensions, weak US data, BTC-spot ETF outflows, and resistance to a US Crypto Strategic Reserve could drag BTC below $80K.

Bullish: Easing trade tensions, positive US data, ETF inflows, and lawmaker support for a US Crypto Strategic Reserve could drive BTC toward its record high of $109,312.

#market On March 5, the US ISM Services PMI eased recession fears, rising from 52.8 in January to 53.5 in February. Firms increased staffing levels on higher demand, with prices also rising, potentially tempering bets on a June Fed rate cut.

In contrast, the ADP jobs report showed a 77k increase in February, well below January’s 186k surge, suggesting a cooling labor market. A weaker job market may affect wage growth, dampening consumer spending and demand-driven inflationary pressures.

Bitcoin briefly dipped below $88K after the ADP report but rebounded to $90K as PMI data reassured investors.

Fed Rate Outlook: The contrasting reports left market bets on an H1 2025 Fed rate move relatively steady. According to the CME FedWatch Tool, the probability of a June Fed cut fell from 81.1% on March 4 to 78.4% on March 5. Fed rate cuts could lower borrowing costs, increasing demand for risk assets, including bitcoin (BTC).

#Market_Update On Wednesday, March 5, XRP advanced by 1.88%, following Tuesday’s 2.83% gain, closing at $2.5016. However, XRP trailed the broader market, which rose 3.35%, bringing the total crypto market cap to $2.92 trillion.

Uncertainty surrounding the SEC’s appeal strategy and XRP’s potential inclusion in the Crypto Reserve Asset kept the token’s gains modest.

Near-term XRP price trends hinge on three factors:

US Strategic Reserve Asset: Government crypto allocations could influence market sentiment.

SEC Appeal Strategy: A dropped appeal may push XRP beyond its $3.55 all-time high, while legal uncertainty could drag prices below $1.50.

XRP-Spot ETF Developments: A green light from regulators could attract institutional inflows and drive prices toward $5.

#WhiteHouseCryptoSummit The SEC will hold a closed meeting on Thursday, March 6, as investors consider the upcoming White House Crypto Summit. Thursday’s closed meeting will give SEC Commissioners a forum to discuss ongoing legal enforcement actions. The SEC’s appeal strategy in the ongoing Ripple case could be a focal point amidst increased speculation about an appeal withdrawal.

SEC Acting Chair Mark Uyeda and Commissioner Hester Peirce give Republicans a 2:1 edge, supporting President Trump’s pro-crypto agenda. Under SEC rules, at least three Commissioners must be present for a quorum.

Since Acting Chair Mark Uyeda established the Crypto Task Force, the agency has reversed its approach toward crypto enforcement:

Jointly requested stays in the Binance and Lejilex cases, delaying proceedings until April due to leadership changes and the Crypto Task Force’s involvement.
Withdrew its appeal against rulings in the Blockchain Association and Crypto Freedom Alliance of Texas (CFAT) case.
Dismissed the lawsuit against Coinbase (COIN).
Closed its investigations into Robinhood Crypto, Opensea, and Uniswap.
Dismissed the case against Kraken.

It remains unclear whether Trump’s plans for a Crypto Summit influenced the SEC’s enforcement priorities.

On Wednesday, March 5, Fox Business journalist Eleanor Terrett shared a list of attendees to the White House Crypto Summit, including:

Vlad Tenev: RobinhoodApp CEO.

Arjun Sethi; Kraken co-CEO.

Brian Armstrong: Coinbase CEO.

Notably absent was Ripple CEO Brad Garlinghouse, despite President Trump’s inclusion of XRP in the US Crypto Strategic Reserve Asset. However, other sources suggest Brad Garlinghouse may still attend.

The White House’s inclusion of XRP as a Strategic Reserve Asset and Garlinghouse’s attendance at Friday’s Crypto Summit could add pressure on the SEC to drop its appeal, challenging the programmatic sales of XRP ruling.

#PEPE‏ The live Pepe price today is $0.000007 USD with a 24-hour trading volume of $854,610,411 USD.

Pepe is up 6.26% in the last 24 hours. The current CoinMarketCap ranking is #34, with a live market cap of $3,001,267,786 USD. It has a circulating supply of 420,689,899,653,544 PEPE coins and a max. supply of 420,690,000,000,000 PEPE coins.

#DOGECOİN The live Dogecoin price today is $0.202470 USD with a 24-hour trading volume of $2,053,692,065 USD.

Dogecoin is up 6.89% in the last 24 hours. The current CoinMarketCap ranking is #9, with a live market cap of $30,026,662,596 USD. It has a circulating supply of 148,302,096,384 DOGE coins.

#TrumpCongressSpeech President Donald Trump has addressed a raucous joint session of the US Congress for the first time since he returned to power in January, declaring: "The American Dream is unstoppable."

In the longest presidential speech to lawmakers on record, he outlined his vision for his second term, as Republicans applauded a high-octane six weeks that has reshaped domestic and foreign policy.

Trump was heckled by Democrats and he goaded them in turn during the rowdy primetime speech.

The Republican president has so far moved to slash the federal workforce and crack down on immigration, while imposing tariffs on America's biggest trading partners and shaking up the trans-atlantic alliance over the war in Ukraine.

Trump name-checked his billionaire adviser Elon Musk, who was watching from the gallery, early in his 100-minute speech.

The tech mogul's Department of Government Efficiency taskforce has moved to fire tens of thousands of federal workers, cut billions of dollars in foreign aid and slash programmes across the US government.

The SpaceX and Tesla boss, wearing a dark suit with a blue tie, stood and acknowledged the cheers from the crowd.

"Thank you, Elon," the 78-year-old president said. "He's working very hard. He didn't need this."

Trump went on to list some examples of wasteful spending he said had been eliminated by Musk's cost-cutting initiative, drawing laughter from Republicans.

"Eight million dollars to promote LGBTQI+ in the African nation of Lesotho, which nobody has ever heard of," Trump said.

$ADA The live Cardano price today is $0.929712 USD with a 24-hour trading volume of $5,020,008,248 USD.

Cardano is up 13.32% in the last 24 hours. The current CoinMarketCap ranking is #8, with a live market cap of $32,737,429,404 USD. It has a circulating supply of 35,212,423,444 ADA coins and a max. supply of 45,000,000,000 ADA coins.

#XRP’ The live XRP price today is $2.43 USD with a 24-hour trading volume of $9,685,570,887 USD.

XRP is up 3.72% in the last 24 hours. The current CoinMarketCap ranking is #4, with a live market cap of $140,996,997,352 USD. It has a circulating supply of 57,949,738,512 XRP coins and a max. supply of 100,000,000,000 XRP coins.

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#PEPE‏ Pepe (PEPE) price extends its decline and trades around $0.0000068 on Tuesday after falling more than 18% the previous day. On-chain data support the bearish outlook as PEPE’s daily active addresses and trading volume are falling. The technical outlook suggests a further correction targeting a double-digit drop.

Pepe price broke below the ascending trendline (drawn by connecting multiple lows since mid-April) on Feburary 24. However, it retested this broken trendline on Sunday and faced a rejection, declining 18.12% on Monday. At the time of writing on Tuesday, it continues its decline, trading at around $0.0000068.

If Pepe continues its downward momentum, it could extend its decline by 16% from its current trading levels to retest its August 5 low of $0.0000058.

The Relative Strength Index (RSI) on the daily chart reads 33 after rejecting around its neutral level of 50 and approaching its oversold level of 30, indicating a strong bearish momentum.

Santiment’s Daily Active Addresses index, which tracks network activity over time, also paints a bearish picture for the frog-based meme coin. A rise in the metric signals greater blockchain usage, while declining addresses point to lower demand for the network.

In PEPE’s case, Daily Active Addresses fell from 7,319 in early Feburary to 3,611 on Tuesday, extending a downtrend that started in mid-November. This indicates that demand for PEPE’s blockchain usage is decreasing, which doesn’t bode well for Pepe's price.

Another aspect bolstering the frog-based meme coin's bearish outlook is a recent decline in traders’ interest and liquidity in the Pepe memecoin. Santiment data shows that Pepe’s trading volume declined from 3.18 billion in early Feburary to 1.01 billion on Tuesday, extending a downtrend that started in early November.

#TRUMP Trump’s token valuation has plunged to $2.5 billion, an 80% decline from its $12.8 billion all-time high, according to TradingView data.

TRUMP price is leaning bearish, currently trading at $12.40 after breaking below the middle Bollinger Band at $13.84.

The rejection from the upper band at $16.89 signals increased downside risk, with the lower band at $10.80 now a potential support.

A sustained breakdown below this level could send TRUMP toward the psychological $10 level, where buyers may attempt to defend.

The 12-hour RSI sits at 40.56, trending downward after failing to reclaim the neutral 50 mark.

This indicates weakening bullish momentum, while the RSI moving average at 37.72 suggests TRUMP could enter oversold territory if selling persists.

A bounce from these levels may see the price retest the middle Bollinger Band, but failure to reclaim it would reinforce bearish dominance.

If TRUMP price holds above $10.80 and RSI stabilizes, a relief rally toward $14 could emerge.

However, without stronger buying volume, the broader downtrend remains intact, leaving TRUMP vulnerable to further losses toward $10.

#solana The Solana (SOL) ecosystem has dominated crypto media headlines in recent weeks for mixed reasons.

On the positive side, Trump's inclusion of SOL in crypto strategic reserves on Sunday, after CME Group's decision to list SOL futures ETF on the world's largest institutional trading platform, both improved market sentiment last week.

However, Solana’s gains were due FXT estates' 11.2 billion SOL payouts to creditors began to flood market supply from the March 1 scheduled date.

While the native SOL token price decline of 20% in the last 24 hours confirms an overwhelming negative, the bearish impact reverberated across the Solana ecosystem, particularly memecoins.

When news of Trump’s confirming tarrifs on Canada and Mexico broke on Tuesday, the Solana memecoin sector valuation hit $8.1 billion in 24 hours tumbling 24.5%, double the 12% average crypto market losses on the day.

#market Metaplanet Inc. acquired 156 additional Bitcoin at an average price of 12,952,147 yen per BTC, raising its total holdings to 2,391 BTC.

The purchase aligns with the company's Bitcoin Treasury Operations, reinforcing its long-term investment strategy.

Metaplanet evaluates its Bitcoin acquisitions using Bitcoin Yield (BTC Yield) as a key performance indicator. This metric measures financial gains in yen, ensuring transparency for shareholders while assessing the effectiveness of its Bitcoin investment strategy.

#USDT Tether, issuer of world’s largest stablecoin, USDT has appointed Simon McWilliams as its new Chief Financial Officer, marking a significant step toward completing a full audit.

The announcement comes amid growing scrutiny over stablecoin reserves, reinforcing Tether’s efforts to enhance financial transparency and regulatory compliance.

McWilliams' appointment aligns with Tether’s ongoing initiatives to strengthen trust and financial integrity in the digital asset sector.

The stablecoin issuer continues expanding its influence in global markets, positioning USDT as a critical component of the global financial ecosystem.