Bitcoin Dips Below $90K as Post-Trump Crypto Rally Loses Steam
Bitcoin’s (BTC) explosive weekend rally is fading fast, with prices sliding back below $90,000 as traders digest the implications of President Trump’s surprise crypto reserve announcement.
After surging to $95,000 late Sunday following Trump’s social media post naming BTC, ETH, SOL, XRP, and ADA as part of a potential U.S. crypto reserve, Bitcoin has dropped 5% in early Monday trading to $89,500. Despite still being up from its pre-announcement level of $85,000, the rapid reversal has traders on edge.
Altcoins that saw double-digit gains—like Solana and XRP—are also paring back, with investors now questioning whether the rally was fueled by speculation rather than concrete policy action.
“This isn’t a done deal—it’s just an idea,” said BitMEX founder Arthur Hayes, warning that without congressional approval or government funding, actual crypto purchases remain unlikely.
Meanwhile, Lekker Capital CIO Quinn Thompson was highly critical, calling Trump’s post a “disaster for crypto credibility” and suggesting the administration was either “misguided or deliberately enabling bad actors.”
The pullback is extending to crypto stocks as well, with shares of Coinbase (COIN), Strategy (MSTR), and mining firms like Hut 8 (HUT) all retracing their early gains.
With traders now eyeing the March 7 White House Crypto Summit for further clarity, the market remains volatile—and the question lingers: was this just another fleeting hype cycle, or the beginning of a true institutional shift?
