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📉 Buy the dip? Sounds like a joke during a market storm. With $BTC struggling, not everyone is ready to catch a falling knife. #crypto #Bitcoin

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We all remember where we were when president Donald Trump stood in front of a large crowd and promised to create a “crypto army” to defeat former president Joe Biden in the presidential race of 2024. It was the start of a revolution. I could not believe my ears. But then Trump took it a step further by promising to free Ross Ulbricht, the founder of Silk Road and the crypto community’s favorite hero, after his mother pleaded with him at a campaign. It was surreal, but he didn’t stop. Trump kept talking about us, about Bitcoin, and promising to free the industry from the shackles that Biden and specifically former SEC chair Gary Gensler had it in. Donald Trump with Tyler and Cameron Winklevoss. Source: Tyler Winklevoss. It felt glorious, and the crypto elites all rallied around him almost instantly, because finally, here was a guy running for the most powerful job on the planet, saying with his own mouth, that he’ll stand by crypto enthusiasts. It’s never happened before, so of course we all fell for him, including myself. When he got shot at during that fateful campaign rally in Butler, Pennsylvania, the crypto community was beside itself with horror. Here was our hero, missing death by just a few inches. If they had gotten him, it would have been over for us. But they didn’t, and after he got back on his feet, Trump promised to fire Gary on “Day 1,” he also promised to mine all of the remaining Bitcoins in the world in America, while on a mission to make it the “crypto capital of the planet.” President Trump with David Sacks and Bo Hines, signing the executive order for a Bitcoin strategic reserve in the Oval. Source: David Sacks Twitter/X. Gemini’s Winklevoss twins, Ripple executives, Cardano’s Charles Hoskinson, Strategy’s Michael Saylor, Coinbase’s Brian Armstrong, and many others in the industry donated to his campaign. And after an outstanding run, beating both Biden and his supposed successor Kamala Harris, Trump won the election. He became president again, making history as both the first person to ever do that and also the first person to call himself “crypto president,” a title we’d seemingly reserved for El Salvador’s president Nayib Bukele. But seeing as Nayib is a huge fan of Trump himself, we don’t think he cares very much about that at all. January, the first disappointment Precisely two days before Mr. Trump’s inauguration, he decided to launch a meme coin, calling it $TRUMP. Then less than 48 hours later, his wife Melania also launched hers, $MELANIA. Both turned out to be sloppy rug pulls, and investors lost billions, while Trump and his backers allegedly made $350 million cumulatively. Trump had promised us a national Bitcoin reserve during the campaign, inspired by the ever-iconic Senator Cynthia Lummis, but the executive order for that didn’t come until January 23rd, and he called it a “Digital Asset Stockpile.” It didn’t mention Bitcoin at all, just stablecoins because apparently, they are the key to keeping the Almighty dollar on top. He then said he was gonna ban CBDCs too. Of course the industry found all that weird and while we were all scrambling to understand exactly what our hero is doing, we failed to see that he actually has absolutely no idea what he’s doing himself. Trump’s exact words were: “We’re promoting and protecting the sovereignty of the United States dollar, including through actions to promote the development and growth of lawful and legitimate dollar-backed stablecoins worldwide.” There was a ton of backlash, but then he’d free Ross, so the community decided to wait on him a bit, give him the benefit of the doubt. And boy, it is a little embarrassing to see how wrong we were. February, the second disappointment The elites clearly applied some financial pressure on Mr. Donald Trump, because out of nowhere whilst in the middle of unnecessary trade wars with three different countries, the president finally announced that he was launching a crypto strategic reserve. But get this, his first announcement only mentioned SOL, ADA, and XRP, which was a little weird. Though after being called out, he threw us a bone by going like, “Oops, yes, Bitcoin too, and Ether. I love them!” That was March 6th. On March 7th, he hosted the first-ever White House crypto summit, with attendees like Brian, Brad Garlinghouse, Crypto Czar David Sacks, Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, Michael Saylor, and Tyler and Cameron Winklevoss. (From the left) Howard Lutnick, Scott Bessent, Donald Trump, David Sacks, Bo Hines, Brian Armstrong, and Michael Saylor at the crypto summit. Source: White House X/Twitter But even that was nothing but pure disappointment. The Bitcoin reserve’s executive order had said that the US wouldn’t be buying any more Bitcoin but would instead use the ones it already got, through forceful seizures over the years. At the summit, Trump said America wouldn’t sell any of its Bitcoin, then followed up with a reality-inducing comment: “From this day on, America will follow the rule that every Bitcoin [holder] knows very well. Never sell your Bitcoin. And that’s a little phrase that they have. I don’t know if that’s right or not. Who the hell knows, right?” he said. Take a look at Bitcoin maxi Saylor’s reaction to that in the picture below. It’s the same as this author’s: While Trump was signing the executive order in the Oval with David Sacks, David was explaining to him that this order will be fulfilling the promises he made to make America the crypto leader and free crypto users, Trump said: “I said that? And this is something you believe in, right?” The truth of the matter is Trump never had any real plan for crypto, he doesn’t understand anything about it, or how it even works. And he could care less about our beliefs. He’s actually more of a crypto hostage than hero at this point. He’s not quite sure what to do with us, but since our elites have spent hundreds of millions of dollars and sees more coming via alleged insider trades, he has no choice but to humor us every once in a while, kind of like he’s doing with Elon Musk, but hey, that’s a different story for a different article. Trump is not the hero crypto wanted, but he’s the one we got, and we’re stuck to him now.

Bitcoin plunged below $80K on Monday, March 10, dropping to lows of $77,490 as the crypto market suffered another bloodbath. But despite the potential for Bitcoin ( BTC ) to dip further, Nigel Green, chief executive officer of global financial advisory giant deVere Group, holds a bullish view. He explained why the bull market may not be over for Bitcoin in an analysis shared with crypto.news. According to Green, one factor to consider is that BTC’s price has dropped sharply just days after President Donald Trump’s executive order on a strategic Bitcoin reserve. While the macro environment could catalyze an extended dip, Green remains confident that Bitcoin and digital assets are still in a bullish phase. “The market’s reaction betrays a short-sightedness that will likely be corrected as investors digest the broader implications of the move.In our opinion, [what] investors should be focusing on is that this executive order makes it more likely Bitcoin will be a geopolitically significant asset in the future.” the deVere CEO noted. Other experts have also highlighted how significant Trump’s executive order and the creation of a strategic Bitcoin reserve are. The argument is that BTC is evolving “beyond a speculative asset” as it gains global adoption. The U.S. strategic reserve sets the tone and tempo. A notable observation about BTC’s price action in recent days is that holders seem to have dumped their positions amid disappointment that the U.S. government isn’t immediately buying large amounts of Bitcoin. That also explains the selling pressure on altcoins like Ripple ( XRP ), Solana ( SOL ), and Cardano ( ADA ) following the executive order and the White House summit. However, Green says the market should look beyond simple BTC purchases and focus on what the strategic reserve means for the long term. In his view, the U.S. has opened the door to a potential global scramble, with other countries joining the race to create Bitcoin reserves. “Countries with a history of accumulating alternative assets, such as gold, may view this as a cue to diversify further into digital assets. Sovereign wealth funds, central banks, and institutional investors will all take notice,” deVere CEO added. Despite the short-term price action, largely driven by knee-jerk reactions, the reserve joins other key events that have shaped BTC’s growth over the years—such as Tesla’s purchase of Bitcoin and the launch of the first spot BTC exchange-traded funds With the U.S. government holding Bitcoin in reserve, what’s likely to follow are clear and favorable regulations. “As the dust settles, the strategic reserve announcement will likely be seen as a moment of validation for bitcoin’s role in the financial system, rather than a cause for concern,” he concluded. At the time of writing, Bitcoin hovered near $78,426, with the bleeding having pushed the flagship digital asset down nearly 6% in the past 24 hours and -14% in the past week. This slump has aligned with a dump on Wall Street . On Monday, the sell-off continued with the S&P 500 and Dow Jones Industrial Average recording sharp declines amid fresh uncertainty around tariffs and economy. It’s an outlook that suggests risk assets, including cryptocurrencies, could face more short-term selling pressure.

For seven weeks in a row, Bitcoin price has experienced several retracements, falling from its peak of $109,000 in January to a Mar. 11 low of around $77,000. The drop has resulted in the loss of about 30% of Bitcoin’s ( BTC ) value and a significant decline of the broader cryptocurrency market. Over the past month, Ethereum ( ETH ) has fallen 29%, while Solana ( SOL ) and Dogecoin ( DOGE ) have had even more severe losses of 40% and 38%, respectively. According to a Mar. 11 report by market intelligence platform Santiment, Bitcoin’s slump began after key stakeholders started taking profits in mid-February, triggering a wave of sell-offs. From Feb. 20 to Mar. 8, 22,702 BTC (almost $1.8 billion at current rates) were moved from private wallets to exchanges. This trend implies that investors were getting ready to sell, which increased the downward pressure. At the same time, whale accumulation, which had fueled Bitcoin’s rise following Trump’s election, slowed significantly after his inauguration. Institutional buyers who had aggressively purchased BTC between November and January began reducing their exposure in February. While some of these high-net-worth investors resumed buying on Mar. 3, the market has yet to see a significant rebound. There has also been a significant change in investor sentiment. A growing number of bearish Bitcoin price projections can be seen in social media data, and many retail investors who entered the market late in 2024 sold at a loss. The average short-term loss for Bitcoin traders is currently -11%, according to Santiment’s study, while long-term holders have lost -5% in the last 12 months. In addition to internal market factors, macroeconomic uncertainty has also weighed down on cryptocurrency. Investors are still alarmed by Trump’s new tariff policies and the possibility of a worsening trade war, which has caused more volatility for digital asset markets. Although initial excitement was triggered by the administration’s pro-crypto stance, concerns over how fast policy and regulatory implementations can take place have dampened expectations. Bitcoin is currently priced at about $77,200 as of Mar. 11, down 4% from the previous day. Meanwhile, Arthur Hayes, co-founder of BitMEX, believes that Bitcoin may fall to about $70,000, which would be a 36% correction from its peak and in line with previous bull market retracements . He pointed out that monetary easing by central banks like the Federal Reserve, PBOC, ECB, and BOJ would probably come after a further drop in U.S. stock indexes, such as the S&P 500 and Nasdaq. Many risk-averse investors could wait for central bank assistance to prevent extended sideways movement and unrealized losses. However, traders should consider buying the dip, according to Hayes. If the $78,000 support doesn’t hold, he previously predicted that Bitcoin may drop to $75,000.