The White House Crypto Summit, scheduled for Friday, ended with a whisper rather than a fierce for cryptocurrency traders.
Investors were hoping for a bold announcement about the US strategic crypto sanctions that pinned high hopes on President Donald Trump’s pro-crypto stance and marked the major altcoins.
Instead, the summit had a more modest result. A stable legal framework before August and a lighter regulation tactile guarantee – Mbu, which didn’t ignite the market as expected.
Trump added that it would be “silly” to have the federal government selling much of the already seized Bitcoin, and that the country would be a colloquial rule that “never sell your Bitcoin.”
XRP fell 3.5% over the past 24 hours, falling from a high of $2.98 at the beginning of the week to nearly $2.4. Cardano’s ADA exceeded 5%, while Solana’s Sol Shed reached 4%, hovering around $138 as of Saturday’s Asian afternoon time.
By contrast, Bitcoin has maintained better, trading at $86,000, down 2.5% in the last 24 hours, but shows relative resilience compared to Altcoin Bloodbath.
Chaired by Trump’s AI & Crypto Czar David Sacks, the summit was billed as a groundbreaking event following the president’s previous pledge to establish a US crypto strategic sanctuary that includes BTC, ETH, XRP, SOL and ADA.
Trump’s true social post on Sunday sparked a massive rally, with traders surged by 60% as they bet on transformative policy changes. But Friday’s sax clarification was merely illustrative as Trump’s reference to five cryptocurrencies, absorbing long rally hopes.
Meanwhile, the Bitcoin embrace will ultimately see other countries act in the lockstep, and could serve as a bullish catalyst in the coming months.
“Prioritization of US Bitcoin as a reserve asset not only justifies its status as ‘digital gold’, but also sets precedents that can accelerate regulatory frameworks and drive institutional adoption around the world.” “The move inevitably encourages diverse responses from global regulators.”
“For those in line with US policy, it could accelerate the establishment of their own national strategic stockpile. Such federal trust encourages institutions to move forward on-chain, increase participation, inject liquidity into decentralized financial markets, and expand interest in other digital assets such as stubcoin,” Chok added.