Bitcoin Price Rises as Trump Announces Crypto Summit on March 7th: Will This Trend Continue?

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Arslan Butt

Crypto Writer

Arslan Butt

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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March 1, 2025 04:41 EST

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Bitcoin (BTC) ended its losing streak, rallying over 8% to hit $86,500 after former President Donald Trump announced a White House Crypto Summit on March 7. The news triggered an immediate bullish reaction, pushing BTC from $78,000 to a new intra-day high.

Ethereum (ETH) and major altcoins like Ripple (XRP) and Cardano (ADA) followed suit, with increased investor optimism around potential regulatory shifts. Bloomberg reported that Trump is expected to discuss the future of digital assets, leading to speculation that the government may adopt crypto-friendly policies.

The surge in trading volume and market activity highlights growing anticipation among institutional and retail investors. While sentiment remains bullish in the short term, analysts caution that macroeconomic risks could still challenge Bitcoin’s rally.

Key Takeaways:

• Trump will speak at the March 7 Crypto Summit, fueling speculation on policy changes.
• BTC surged 8% to $86,500, while ETH and major altcoins also posted gains.
• Market sentiment is improving, but macroeconomic risks could weigh on prices.

Trade Tensions & Inflation Data Pose Risks to Bitcoin

Despite Bitcoin’s impressive rally, external macroeconomic factors could limit further upside. Trump reaffirmed 25% tariffs on Mexican and Canadian imports and imposed an additional 10% tariff on Chinese goods, escalating global trade tensions.

These developments strengthened the US dollar, making risk assets like Bitcoin more vulnerable to corrections.

Meanwhile, the latest Personal Consumption Expenditures (PCE) inflation report showed a 0.3% increase in January, bringing the annual rate to 2.5%. Core PCE, the Federal Reserve’s preferred inflation gauge, slowed to 2.6% from 2.9% in December.

While the data aligned with expectations, it reinforced the likelihood of the Fed keeping interest rates steady, a factor that could dampen BTC’s momentum.

Key Takeaways:

• Trump’s tariffs on Mexico, Canada, and China intensified global trade tensions.
• US PCE inflation slowed, with core PCE dropping to 2.6%, keeping rate cuts uncertain.
• Fed’s hawkish stance could slow Bitcoin’s rally, impacting its long-term trajectory.

Bitcoin Rebounds as Experts Predict Key Support at $77K

Bitcoin’s recent dip below $83,000 triggered short-term panic, with fears of a potential drop to $70,000. However, BTC quickly rebounded by over 4%, climbing back above $86,000.

According to CryptoQuant CEO Ki Young Ju, Bitcoin is at a critical bull-bear boundary. He believes BTC’s bullish cycle will extend until April 2025, following its two-year market pattern. If demand remains strong, Bitcoin could continue higher, but weak buying pressure could drag prices lower toward $77,000 support.

Analysts also warn that Trump’s trade tariffs on European goods could increase market volatility, making Bitcoin’s rally less predictable in the coming weeks. Traders are advised to remain cautious, especially with leveraged positions.

Key Takeaways:

• BTC rebounded 4% to $86,000 after briefly falling below $83,000.
• CryptoQuant CEO expects BTC to remain bullish until April 2025, with $77K as strong support.
• Market volatility remains high due to Trump’s tariffs on European imports

Bitcoin (BTC/USD) Technical Outlook – March 1, 2025

Bitcoin is currently trading at $85,400, showing a 0.8% gain after hitting lows near $82,200. The 2-hour chart indicates BTC is testing key resistance at $86,500, aligning with both the descending trendline and the 50-period EMA ($86,000).

If BTC breaks above $86,500, it could target $89,400 in the short term. However, failure to clear resistance may trigger another decline, with $82,200 acting as immediate support. A rejection at current levels could reinforce bearish momentum, potentially dragging BTC toward $78,100 or even $74,000.

Bitcoin’s rally is fueled by Trump’s Crypto Summit announcement, but macro risks like trade tensions and Fed policy remain obstacles.

Investors should watch $86,500 resistance closely—if BTC clears it, the next leg higher could take prices toward $89,400. However, failure to break out may lead to renewed downside pressure.

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