Bitcoin (BTC) price hovers around $93,000 on Monday after rallying 9.53% the previous day. Ethereum (ETH) and Ripple (XRP) prices followed BTC’s footsteps and rallied nearly 14% and 35% on Sunday. This spike in prices was triggered by Donald Trump’s announcement on his Truth Social platform of a US ‘Crypto Strategic Reserve’, including Bitcoin (BTC), ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), aiming to boost America’s crypto leadership.
Bitcoin (BTC/USD) shows signs of resilience after enduring a relentless five-day sell-off that saw the price plummet from the $96,400 impact zone to a low of $75,000. The steep decline breached key support levels at $84,200, $81,900, and $78,100, triggering widespread liquidations and exacerbating market fears. However, as March begins, bullish momentum emerges, hinting at a potential shift in sentiment.
Bitcoin Cash (BCH) was one of the top-performing crypto assets on Friday, defying the bearish market sentiment to score 7% gains. On-chain data suggests the rally could be short-lived with miners actively offloading their reserves.
