Episode 550
📍 Bitcoin surges 7% in one hour, crossing $92,000, after Donald Trump announces the US will establish a crypto strategic reserve, with data indicating the rally is driven by spot demand rather than speculation.
📍 Trump's announcement also boosts prices of other cryptocurrencies, including XRP, Solana, Cardano, and Ethereum, with XRP jumping 31% and ADA and SOL rising over 20% in 24 hours.
📍 A crypto trader nets $6.8 million after placing highly leveraged bets on Bitcoin and Ethereum hours before Trump's announcement, raising questions about strategic market timing and potential prior knowledge of the impending statement.
📍 The crypto market shows signs of a sustainable bullish run, with spot cumulative volume delta indicating buyers as the aggressors and futures open interest declining, putting more emphasis on spot demand.
📍 The surge in crypto prices is expected to bring bullish sentiment back into the digital assets space, with a crypto summit scheduled for March 7 and prominent industry figures set to attend.
