Bitcoin experienced a surge in price, surpassing $95,000, after US President Donald Trump announced the formation of a US Crypto Strategic Reserve that includes Bitcoin, Ethereum, XRP, Solana, and Cardano. Some traders believed this could solidify crypto's role in the US financial system, while others remained skeptical about the sustainability of the rally. QCP Capital, in particular, questioned whether this move signaled a long-term shift in policy or was simply a well-timed announcement to stabilize sentiment. The timing of Trump's announcement coincided with mounting pressure on risk assets due to economic and geopolitical developments. The rally in Bitcoin reminded traders of a similar event in 2019 when Chinese President Xi Jinping's pro-blockchain rhetoric led to a short-lived surge in Bitcoin price. The question now is whether Trump's announcement will lead to a sustained trend shift or eventually fizzle out. Bitcoin's future performance may be influenced by key macroeconomic and regulatory developments, such as the latest Purchasing Managers' Index (PMI) data and the Non-Farm Payrolls (NFP) report, as well as the outcomes of the White House Crypto Summit.



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