Crypto Markets Thrive With Crypto Statergic Reserve Announcement—Is a ‘Global FOMO’ Incoming for the Bitcoin Price Rally?
After a brief sell-off, the crypto market cap exceeded another $3 trillion. Interestingly, U.S. President Donald Trump triggered the sell-off and the recent rise. The cryptocurrency market has declined with the price tagged below $79,000, while the price soared to above $95,000 as the crypto strategic reserves were announced. With the momentary transition from bearish to some bullish, market participants now see some hope before the end of the first quarter.
President Trump announced a strategic cryptocurrency reserve with Bitcoin, Cardino, XRP and Solana, which is believed to start global FOMO soon. As Senator Lummis said, the crypto war could begin. China is reportedly holding a secret, closed-door meeting to discuss the same meeting. However, this move seems to be more of a goal to strengthen the U.S. economy, with Treasury bonds now exceeding $36.2 trillion.
The announcement appears to have been analyzed that cryptocurrencies are investors’ magnets. According to some reports, more than $300 billion entered the market after the announcement. In addition, the proposition that the United States is expected to become the global cryptocurrency capital is expected to attract crypto investors who can invest $5 million to obtain U.S. citizenship, as the president himself launched a craze for MEMCOIN has verified the growing global adoption of crypto.
What’s next for Bitcoin (BTC) price rally?
this Bitcoin Price Over the past weekend, it has seen a huge jump as it soared $95,000 from the local bottom. The current price action does indeed close the CME gap between $80,670 and $78,000 to a large extent, but in turn creates a significant gap. Monthly trades started with bullish rebounds, which subsequently increased by 12%. Unfortunately, these 12% form a huge gap in CME, so the price is now expected to be corrected to fill the gap.
As shown in the above chart, BTC prices face a pullback and are entering the CME GAP range between $85,720 and $91,630. As we all know, the price has filled the recent gaps before, just like in July 2024. Even if prices drop to fill the gap, cryptocurrencies will remain within the bullish range between 50-day and 200-day MAs, which range between 50-day and 200-day MAs, with strong resistance and support levels. Therefore, breaking any level can verify the direction of the next price action.
Bitcoin price started trading in February with bearish notes and maintained a strong downward trend throughout the month. So now it is believed that the price fills the gap and rebounds to reach $100,000 as the monthly starts very bullish. However, as emotions remain scary, uncertainty in the crypto market is still winning.
