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Bitcoin has had a bullish 24 hours as anticipation builds for the upcoming crypto summit. Hosted at the White House, this event will bring together some of the most prominent and influential figures in the crypto space.
Notable Attendees and Their Involvement in Crypto:
- Donald Trump (US President)
- David Sacks (‘Crypto Czar’)
- Michael Saylor (MicroStrategy CEO)
- Paolo Ardoino (Tether CEO)
- Brad Garlinghouse (Ripple CEO)
- Cathie Wood (Ark Invest CEO)
- Anatoly Yakovenko (Solana Founder)
- Vitalik Buterin (Ethereum Founder)
- Nat Eliason (Ondo Finance)
- Marc Andreessen (a16z Founder)
- Brian Armstrong (Coinbase Founder)
- Changpeng Zhao (Binance Founder)
This could be one of the biggest events and catalysts the crypto market has ever seen. Speculation is already mounting about potential major announcements, with some expecting:
- The introduction of a Strategic Crypto Reserve
- 0% capital gains tax on US-based cryptocurrencies
- Regulatory clarity and pro-crypto policies
Which Cryptos Stand to Benefit?
Source:https://cryptorank.io/
The graphic above is crucial—it highlights the cryptocurrencies set to benefit the most from the new pro-US crypto policies. This includes:
- Cryptocurrencies developed in the US (potential candidates for 0% capital gains tax)
- ETF applicants
- Projects invited to the White House
- Coins directly mentioned by Trump
The more a cryptocurrency overlaps with these categories, the greater its potential advantage. These coins should be on everyone’s radar.
A Potentially Risky Event
However, this summit also carries significant risk. In the past, bullish expectations around speeches from Trump and Sacks have led to sell-offs when key announcements (such as the Strategic Crypto Reserve) failed to materialise.
If the reserve is not confirmed, we could see another wave of disappointment-driven selling. But if it is confirmed, Bitcoin could rally past $100k and set the stage for new all-time highs.
Key Event Details
- Start time: 4:30 AM AEST, March 8
- Expected end time: 8:30 AM AEST
This Trump-driven volatility isn’t going anywhere, and sharp corrections should be expected throughout the year. As I’ve said countless times, these dips are golden buying opportunities. Time and time again, I’ve been proven right—and those who followed my advice have reaped massive gains.
Stormrake Spotlight: Sonic (S) ($0.59)
Stormrake Spotlight: Sonic (S) ($0.59)
Sonic (S) has followed the broader market rally, rising nearly 6% in the past 24 hours. More importantly, S bounced from the bottom of the accumulation zone, confirming buying strength and demand at this level.
As long as Bitcoin remains bullish, this accumulation zone should continue holding strong.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin remains in bullish momentum and is on track to form a new higher high at $95.7k, a key level that will determine whether BTC continues its rally. A breakout above this level would strengthen the bullish case, solidifying the trend and increasing the likelihood of BTC reaching new all-time highs.
On the downside, BTC holds strong support at $89.9k, which is expected to provide a solid foundation for price action. If Bitcoin fails to break $95.7k, it could enter a neutral structure, leading to a period of consolidation before the next major move.
BTC Total ETF Flows for 5 Mar: $ (data not available at the time of writing)
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
ETH/USD Key Levels and Price Action:
ETH/USD Key Levels and Price Action:
Ethereum’s market structure remains weaker than Bitcoin’s, but momentum has shifted back in favour of the bulls. Overnight, ETH reclaimed $2,171, a critical level that signals renewed buying interest. This recovery is a promising start, but ETH still faces major hurdles.
The next key level to watch is $2,556, but Ethereum has a long way to go before reaching it. The 200MAs and a CPR level stand in its way, acting as significant resistance. For ETH to break through these levels, Bitcoin will need to break and hold above $100k, bringing broader market confidence.
ETH Total ETF Flows for 5 Mar: $ (data not available at the time of writing)
(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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The information in this newsletter is general only. It should not be taken as constituting professional advice from the author - Stormrake PTY LTD.
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