Trump’s Crypto Reserve Post Triggers Market Surge, But Gains Fade
President Trump’s social media post on Sunday regarding a U.S. crypto reserve initially sent digital asset markets soaring, but the rally is already showing signs of exhaustion as U.S. markets open on Monday.
Bitcoin (BTC) has dropped roughly 5% in the past hour, now trading at $89,500. While still higher than the $85,000 level before Trump’s announcement, BTC has pulled back sharply from its Sunday peak of $95,000.
Other cryptocurrencies referenced by Trump—including ether (ETH), solana (SOL), XRP, and cardano (ADA)—remain in positive territory compared to Sunday but have surrendered a significant portion of their initial gains.
Some industry voices remain skeptical. Arthur Hayes dismissed Trump’s post as mere rhetoric, writing, “Nothing new here. Just words. Let me know when they get congressional approval to borrow money or revalue gold higher. Without that, they have no money to buy Bitcoin or anything else.”
Lekker Capital CIO Quinn Thompson, who recently predicted crypto’s downward move, was also critical. “If you’re in crypto and cheering this, I don’t know what to tell you. There’s no way legitimizing two of the industry’s biggest scams is a good thing. Either the administration is ignorant, misinformed, or bought—this ain’t it.”
He further cautioned traders, saying, “Trump’s administration is about to hand crypto traders the 10th ‘sell the news’ event of the year.”
Crypto-related stocks that initially surged alongside digital assets are also pulling back. Shares of Coinbase (COIN), Strategy (MSTR), Semler Scientific (SMLR), and Hut 8 (HUT) have all retraced their early gains.
