Author: Techub Hot News
Written by: Babywhale, Techub News
Last night, US President Trump posted on his social media Truth Social to express his support for the cryptocurrency market.
Trump said in his first post, "After years of 'corrupt attacks' by the Biden administration, the U.S. cryptocurrency reserves will enhance the status of this critical industry, which is why my digital asset executive order instructs the Presidential Task Force to advance strategic reserves of cryptocurrencies including XRP, SOL and ADA. I will ensure that the United States becomes the world's cryptocurrency capital. We are making America great again!"
Afterwards, Trump reiterated that, like other valuable cryptocurrencies, Bitcoin and Ethereum will also be at the core of the reserves, and I love Bitcoin and Ethereum too!
After looking through the presidential executive order page on the White House official website, the author can almost confirm that the "news" that caused the short-term surge in assets mentioned by Trump is actually "old news."
From the relevant pages of the White House website, we can see that Trump has not signed a new executive order on cryptocurrency. The national cryptocurrency reserves mentioned on social media are still the digital asset reserves mentioned in the "Strengthening America's Leadership in Digital Financial Technology" signed in January. However, this time Trump clarified the assets that may be included in the reserve: Bitcoin, Ethereum, SOL, XRP, ADA.
In other words, Trump may just be cheering up the recent sluggish cryptocurrency market. His so-called "promotion" work has actually been ongoing since the signing of the executive order, rather than any "new progress". It is worth noting that the signed executive order explicitly mentions that the way to establish a national cryptocurrency reserve is to retain cryptocurrencies that the federal government has legally seized through law enforcement actions, but the current US president has not yet made it clear whether there are other ways.
In the current cryptocurrency market, whenever the keywords "Trump", "cryptocurrency" and "Bitcoin" appear at the same time, there will always be considerable market fluctuations. A few days ago, Bitcoin fell below $80,000 due to the imminent implementation of Trump's tariff policy. At the time of writing this article, according to OKX market conditions, the price of Bitcoin has rebounded to above $92,000.
A piece of good news that is not tenable at first glance can cause the price of Bitcoin to rise by nearly 10% in the short term. It can only be said that the market is too expecting good news. However, facing an erratic president like Trump and the absence of new good news in the cryptocurrency market that can influence the "battle situation", the sustainability of this violent rebound caused by "old news" remains in doubt.
Of course, the power of emotions in the financial market should never be underestimated, but when the price of an asset must rely on the emotions stimulated by the news rather than the asset itself having new pricing room to complete the rise, investors should pay more attention to risk control. The rise of Bitcoin in the past two years is also based on the stable rise in the prices of risky assets represented by US stocks. If this foundation is no longer there, capital with a keen sense of smell may not choose to fight to the end.
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