Bitcoin rebounds to over $93,000 with renewed optimism in altcoin markets following Trump’s crypto reserve plan

The cryptocurrency market rallied on Sunday, recovering some losses from the past two weeks, following the market's reaction to news of U.S. President Donald Trump's plan to create a crypto reserve.

Bitcoin surged beyond the $94,000 level at one stage on Sunday and traded up 8% over the past 24 hours at around $92,604 at the time of writing. Ether was up 9.6% to change hands at $2,440, according to The Blocks' price page .

Notably, Cardano (ADA) surged 60.8% to trade at $1.06, and XRP jumped 24.5% to $2.8. Solana gained 18.3% to $169.82.

The crypto rally followed Trump's Sunday social media posts announcing the possible inclusion of SOL, XRP, and ADA in the U.S. crypto reserve alongside Bitcoin and Ether. White House Crypto Czar David Sacks also wrote on X that there is "more to come at the Summit," teasing that Trump will address crypto leaders at the White House on March 7.

"Making a call on short-term price actions is always tough, but given crypto Czar David Sacks teased that there is 'more to come at the Summit' in his recent tweet, the expectations may remain high until Friday ET, barring any unfavorable macro-related or tech-earnings headlines," Peter Chung, head of research at Presto Research, told The Block.

In addition to the outcomes from the Summit, any updates on the CME's plan to list Solana futures — which require regulatory approval to finalize the listing — may further fuel a SOL rally, according to Chung. 

"CME may also not stop at SOL but list other futures, such as XRP and Cardano, especially now that these names are getting renewed attention from TradFi investors after Trump's post," Chung added.

Kevin Guo, director of HashKey Research, told The Block that the current upward momentum might "see a correction" in the near term as "investors price in the crypto reserve announcement and determine the legal viability for Trump to create the reserve."

Jeff Mei, COO of crypto exchange BTSE, also said that Trump's posts gave a strong signal to markets, but "it’ll likely take time for the government to begin putting together the crypto reserve and begin large-scale purchases." 

"In the meantime, traders will look to potential SEC approvals of XRP and SOL ETFs, which could very well happen in the near term and boost prices significantly," said Mei.