Trump's Bitcoin ETF Move Sparks Market Buzz and $100K Price Speculation

09.02.2025 31 times read 0 Comments

‘Great Time To Enter Bitcoin’—Crypto Braced For Trump Price Shock

According to Forbes, the cryptocurrency market is experiencing significant developments as Donald Trump’s media company, Trump Media and Technology Group (TMTG), prepares to launch a Bitcoin exchange-traded fund (ETF). This move comes amidst Eric Trump’s bullish prediction on Bitcoin, stating on X that it "feels like a great time to enter Bitcoin." TMTG has applied for trademarks for three ETFs under its Truth.Fi brand, including the “Truth.Fi Bitcoin Plus ETF.” The company aims to provide alternatives to traditional funds, addressing issues like "woke funds" and "debanking problems," as stated by TMTG CEO Devin Nunes. Meanwhile, the Bitcoin price has fluctuated around $100,000, with Coinbase’s CEO predicting it could surpass gold’s $18 trillion market capitalization.

Additionally, World Liberty Financial, a decentralized finance project spearheaded by Eric and Don Jr. Trump, has been actively acquiring cryptocurrencies, including Ethereum-based wrapped Bitcoin. This initiative is expected to allow users to earn yields through stablecoins and borrow crypto assets. The launch of TMTG’s ETF could position the company as a competitor to Wall Street giants like BlackRock and Fidelity, whose Bitcoin ETFs have already amassed over $100 billion in assets under management.

Source: Forbes (https://www.forbes.com/sites/digital-assets/2025/02/07/great-time-to-enter-bitcoin-crypto-braced-for-trump-price-shock-after-surprise-prediction/)

Crypto Market Blues: A Week of Decline

FXStreet reports that the cryptocurrency market has seen a sharp decline of over 11% in the past week, with Bitcoin losing slightly more than 6% of its value. The market downturn was triggered by the imposition of U.S. tariffs on Canada, Mexico, and China, which led to bearish sentiment among investors. Bitcoin’s price has fallen below $97,000, trading beneath its 50-day moving average, signaling a potential disruption in its uptrend. Analysts suggest a pullback to the 200-day moving average near $80,000 could be a possible target.

Ethereum has also faced challenges, with its market share dropping to a four-year low. JPMorgan analysts attribute this to intense competition from Solana and Layer 2 solutions offering lower fees and higher performance. Former BitMEX CEO Arthur Hayes predicts Bitcoin could return to the $70,000-$75,000 range, citing concerns over U.S. policies and the potential creation of a U.S. Special Bitcoin Reserve. Ethereum’s price trajectory remains uncertain, with analysts suggesting a bounce to $4,000 or even $6,000 if it holds above $2,500, but a drop to $1,700 if it breaches this level.

Source: FXStreet (https://www.fxstreet.com/cryptocurrencies/news/crypto-market-blues-a-week-of-decline-202502070951)

US Endowments Join Crypto Rush by Building Bitcoin Portfolios

The Financial Times highlights a growing trend among U.S. endowments, which are increasingly investing in Bitcoin portfolios. This shift reflects a broader acceptance of cryptocurrencies as a viable asset class among institutional investors. The report notes that these endowments are leveraging Bitcoin’s potential as a hedge against inflation and a tool for portfolio diversification. This move aligns with the global trend of institutional adoption of digital assets, further solidifying Bitcoin’s position in the financial ecosystem.

Source: Financial Times (https://www.ft.com/content/cb9511a5-5df7-4ba7-974a-2f00d9d2128c)

XRP News Today: SEC Crypto Conflicts Heat Up

FX Empire reports that XRP has been at the center of regulatory debates as the SEC faces mounting pressure over alleged conflicts of interest. XRP’s price recently advanced to $2.4196, outperforming the broader market. The SEC’s ongoing legal battle with Ripple has drawn attention, with speculation that the agency may withdraw its appeal following an investigation by the Office of Inspector General (OIG). The appeal challenges a 2023 ruling that found XRP’s programmatic sales did not meet the criteria of a security under the Howey Test.

Analysts suggest that if the SEC withdraws its appeal, XRP could surge past its all-time high of $3.5505, potentially reaching $4. Conversely, a continued legal battle could push XRP’s price down to $1.50. The outcome of this case could also influence the approval of XRP-spot ETFs, which may unlock significant institutional demand for the cryptocurrency.

Source: FX Empire (https://www.fxempire.com/forecasts/article/xrp-news-today-sec-crypto-conflicts-heat-up-impact-on-xrp-price-1496379)

Crypto Price Today: Bitcoin Holds Above $97,000

The Economic Times reports that Bitcoin continues to trade above $97,000 despite a challenging market environment. Major altcoins, including Sui and XRP, have experienced declines of up to 10%. The cryptocurrency market remains volatile, with investors closely monitoring regulatory developments and macroeconomic factors. Bitcoin’s resilience above the $97,000 mark highlights its status as a leading digital asset, even as the broader market faces headwinds.

Source: The Economic Times (https://m.economictimes.com/markets/cryptocurrency/crypto-price-today-bitcoin-holds-above-97000-sui-xrp-drop-up-to-10/articleshow/118007618.cms)

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