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Today, two of the most influential figures in financial markets took the stage—Donald Trump at the crypto summit and US Federal Reserve Chair Jerome Powell in Chicago.
The summit largely reiterated what had already been announced. Yesterday, David Sacks revealed that Trump had signed an executive order establishing the Strategic Bitcoin Reserve (SBR). Trump reaffirmed his commitment to holding all seized cryptocurrencies rather than selling them, reassuring taxpayers that the SBR's acquisition funds wouldn’t come from their pockets. He also spoke about the need for greater regulatory clarity.
However, the summit left investors disappointed. Many had hoped for a firm commitment to purchasing new Bitcoin for the reserve, as proposed during Trump’s election campaign and outlined in the Lummis Bill—which suggested the US government would acquire 200,000 BTC annually for the next five years.
Powell’s Speech Amid Political Uncertainty
Amidst ongoing political uncertainty, Powell reassured his audience that the Federal Reserve is in a position to wait for greater clarity before making any policy decisions.
“The White House is in the process of implementing significant policy changes in four distinct areas: trade, immigration, fiscal policy, and regulation,” Powell stated at the U.S. Monetary Policy Forum. “It is the net effect of these policy changes that will matter for the economy and for the path of monetary policy.”
In other words, the Fed isn’t rushing to react—it’s waiting to see how these policies unfold before making any major moves. Markets should brace for a period of heightened uncertainty, where data dependence will be key.
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) ($0.50)
Stormrake Spotlight: Sonic (S) ($0.50)
Sonic (S) continues to struggle and will likely remain under pressure in poor market conditions. It’s currently sitting at a key level that has previously acted as both support and resistance, but its next move will be largely dependent on Bitcoin’s price action. If BTC continues to fall, S will follow. However, once BTC flips bullish, S should find support and rally.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin remains under pressure at key resistance levels, facing another rejection from $89.9k overnight, now trading back at the lower support of $85.2k. This rejection has shifted momentum in favour of the bears, stalling bullish progression.
BTC has now created a lower high at $92.5k but continues to form higher lows. Price is in no man’s land.
BTC Total ETF Flows for 7 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:
Despite Ethereum’s bearish momentum and structure, it continues to hover around the key level of $2,171, acting as a magnet. Since we are below this level and bears are in control, the favoured move is back down to $2,019.
ETH Total ETF Flows for 7 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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