Donald Trump announced the long-promised US Crypto Strategic Reserve on Sunday, revealing that it will include US-based assets like XRP, Solana and Cardano, besides Bitcoin and Ethereum. Are those now the best cryptos to buy?
The announcement sent crypto prices soaring, with the Bitcoin price temporarily reclaiming the $95,000 level. ETH, XRP, SOL, ADA and related altcoins posted even stronger gains.
However, the majors failed to flip key resistance levels that would have invalidated all bearish scenarios and paved the way for new all-time highs. Instead, bullish momentum has stalled and prices are now re-testing critical support levels.
There is now intense speculation about whether the crypto bull market is back on or whether the large-caps could see more downside volatility in the coming weeks.
Just How Bullish Is The US Crypto Strategic Reserve?
Donald Trump is taking steps to fulfill his pledge to make the United States ‘the crypto capital,’ with the establishment of a US Crypto Strategic Reserve marking a significant milestone toward that goal.
Trump’s crypto and AI czar, David Sacks, reveals that more details will be unveiled at the White House Crypto Summit on March 7th, an event which promises major volatility for the market.
The White House has also revealed that President Trump will make an important “investment announcement” today, which many are connecting to the Reserve or the newly created Sovereign Wealth Fund.
🚨TRUMP TO MAKE ‘INVESTMENT ANNOUNCEMENT’ ON MONDAY -WHITE HOUSE
— *Walter Bloomberg (@DeItaone) March 3, 2025
Before more details are unveiled, major industry players remain unconvinced by the idea, which explains the fading momentum of the post-announcement rally.
Even Trump supporters in the industry like Jason Calacanis, Ryan Selkis, David Bailey and Nic Carter are strongly against the proposed Crypto Strategic Reserve, particularly the inclusion of XRP, Solana and Cardano.
Prominent philosopher-investor Naval Ravikanth believes the Reserve would make American Taxpayers exit liquidity for crypto whales.
More importantly, major hurdles still stand in the way of the Reserve’s creation. BitMEX Founder and Maelstrom Fund CIO Arthur Hayes claims Trump’s announcement is nothing new since he had already ordered his Presidential Working Group to explore a Crypto Strategic Reserve.
The President would still need the support of the US Congress to borrow money for the reserve.
It is, therefore, not a surprise that crypto prices aren’t pricing in the Reserve just yet, despite the initial rally.
Can a Crypto Strategic Reserve Restart The Bull Run?
The Bitcoin price soared by more than 10% following President Trump’s announcement.
However, it failed to flip the $96,300 resistance, which would have paved the way for new all-time highs.
Prominent analyst Ali Martinez believes that a failure to surge past its 50-day SMA, which is currently at $97,700, would result in a drop below its 200-day SMA, currently at $82,480.
Similarly, altcoins like Ethereum, Solana, XRP and Cardano would need to showcase significant strength to avoid even deeper pullbacks.
Best Crypto to Buy Now?
Smart money investors use beta bets to achieve outsized returns. For instance, Pepe is showing significant strength following Ethereum’s inclusion in the CSR assets, as are other ETH meme coins.
Solana meme coins like Dogwifhat and Fartcoin are also in high demand.
A new Bitcoin-themed meme token, BTC Bull (BTCBULL), has also caught the attention of smart money investors, considering it will offer holders free Bitcoin airdrops if the Reserve gets congressional approval.
The project has announced token burns as well as BTC and BTCBULL airdrops when the Bitcoin price hits certain milestones. For starters, there is a token burn scheduled at $125k and a BTC airdrop at $150k.
If the US Congress approves the Crypto Strategic Reserve, BTC will easily hit these milestones, significantly benefitting BTCBULL holders.
Unsurprisingly, the meme coin is already in strong demand in its presale, with many early buyers calling it the best crypto to buy now.
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