Trump "rescue the market" and a look at the most popular "macro events" and "US currency" this week
Reprinted from chaincatcher
03/03/2025·2MAuthor: flowie, ChainCatcher
It's Trump. After experiencing a continuous waterfall-like sharp drop, Trump's crypto commitment has brought a big turn for the market.
Last night, Trump posted a message on a social platform that he instructed the presidential working group to promote strategic reserves of cryptocurrencies including XRP, SOL and ADA. After adding that tweets including BTC and ETH, all mentioned tokens soared.
As of press time, according to Binance market data:
- BTC rose from below $70,000 and broke through $95,000, and is now at $92,600, with a 24-hour increase of 7.82%.
- ETH rose from below $2,200 and broke through $2,550, and is now at $2,434, with a 24-hour increase of 39%.
- SOL rose from around $140 to approach $180, and is now at $169, with a 24-hour increase of 11%.
- XRP rose from around US$2 and approached US$3, and is now at US$2.79, with a 24-hour increase of 23.94%;
- ADA rose from around $0.65 and broke through $17, and is now at $1.07, with a 24-hour increase of 59.60%.
According to Coingecko data, the total market value of cryptocurrencies has also returned to US$3 trillion, and is now at US$3.22 trillion, an increase of 8% in the past 24 hours.
The sudden big reversal caught many contract users off guard. The total liquidation amount in the past 12 hours exceeded US$770 million, of which short positions were mainly short positions, with the liquidation amount reaching US$520 million and the long position liquidation amount was US$253 million.
Next, the crypto market trend has also entered the most critical week. Several macro data that affects the direction of the market, as well as the White House crypto summit hosted by Trump for the first time, will be released or held this week.
****How will the macro week and White House crypto summit affect the
market?****
There are macro data and major events affecting the crypto market almost every day this week.
Especially this Friday may be the most worthy of attention. Trump will host the cryptocurrency summit at the White House, and two major data on unemployment and non-farm farms were also released on the same day.
This is the first time Trump has hosted a crypto summit at the White House, which will convene well-known founders, CEOs and investors in the cryptocurrency industry, as well as members of the President’s Digital Assets Task Force to discuss regulatory policies, stablecoin regulation and the potential role of Bitcoin in the U.S. financial system.
Trump and his every move at the summit are expected to bring considerable fluctuations to the crypto market.
KOL @Phyrex_Ni, which focuses on the macro market, predicts that Trump will most likely talk about the issue of cryptocurrency strategic reserves at the cryptocurrency summit. BTC must be the protagonist, which may include ETH, but SOL, ADA and XRP "derived from the United States" may not be mentioned. In addition, stablecoins are definitely part of the summit.
There is currently no clear list of crypto founders, CEOs and investors attending the conference.
Previously, Trump's inauguration and crypto dance sponsorship lists may provide some references, including: TRON, Ripple, Anchorage, Kraken, Sui, MetaMask, Galaxy, Ondo (ONDO), Solana, Etoro, Uniswap, etc., as well as crypto listed companies Coinbase, MicroStrategy, Marathon Digital, Nano Labs, Exodus, Metaplanet, etc.
In addition to this Friday's crypto summit, Trump was also invited to Congress on Tuesday to deliver his first speech during his term. This will be the first time Trump has made a formal speech to Congress during his second term. Whether cryptocurrencies will be mentioned is also worth paying attention to.
In addition, Fed officials, including Fed Chairman Powell, FOMC voter, St. Louis Fed Chairman Mousalem, New York Fed Chairman Williams, and many other Fed officials will make public speeches this week, and the Fed will release a Beige Book on the Economic Conditions this week, and investors need to pay close attention.
On Tuesday, the U.S. tariffs on Mexico and Canada will also take effect, but the specific level of tariffs has not yet been finalized. Earlier in early February, the crypto market plunged and fell below the $100,000 mark when the plan to impose tariffs was initially announced.
In terms of macro data, non-agricultural data, the February manufacturing and service industry activity reports released by ISM, etc., will also reflect and affect market sentiment.
According to Jinshi data analysis, non-farm data may be a key indicator that affects the direction of US interest rates. Economists estimate that the U.S. economy added 133,000 jobs in February, down from 143,000 in January; unemployment is expected to remain unchanged at 4%, while average hourly wages are expected to rise by 0.3% month-on-month, down from 0.5% in January.
If the non-farm employment population increases significantly and the unemployment rate drops, it indicates a strong economy; on the contrary, if the data is poor, it may trigger market panic and lead to cryptocurrency price fluctuations.
****" US currency" has once again become the main theme of
investment?****
Although the market has also shown considerable bearish sentiment about Trump's "yelling" to save the market, the "US currency" may once again become the main theme of investment.
Binance founder Zhao Changpeng (CZ) also posted a statement early this morning that the market is currently clearly dominated by "US crypto assets".
"American currency" can be roughly understood as an encryption project initiated by Americans in the United States with a certain transaction history.
In addition to BTC, ETH, XRP, SOL and ADA that Trump clearly calls for orders, other "U.S. coins" counted by crypto community users are also worth paying attention to, such as UNI, DOGE, LINK, AVAX, XLM, SUI, HBRA, LTC, NEAR, AAVE, APT, ONDO, ALGO, RENDER, FIL, etc. Recommended reading: What coins should I buy after Bitcoin 100,000? ——Buy American coins
(Original contact is welcome to mark the accurate source)
In addition, the Trump family, Trump’s new government concept currency, US capital currency, etc. can also be paid attention to. (Only sort out relevant concept coins, no investment advice)
Trump family: TRUMP official meme, DeFi project World Liberty Financial token WLFI and purchased tokens such as ONDO, ENA, ETH, LINK, AAVE, etc.
New government concept coins: Dogecoin DOGE, Department of Government Efficiency (DOGE), PNUT, abbreviated with the Ministry of Government Efficiency; DYDX, HNS, ZRX, and DYDX, HNS, and ZRX, the White House AI and Crypto Director; RSR, the new SEC Chairman Paul Atkins.
US Capital Currency: ChainCatcher has included coin issuing projects related to traditional asset management such as BlackRock, mainly Ondo, CRV, ENA, LINK, XLM, VELO, SUI, APT, Avax, PUFFER, etc. In addition, the tokens selected by Grayscale Positions and Coinbase 50 Index are also worth paying attention to.
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