Author: flowie, ChainCatcher
It's still CZ, after experiencing a sustained waterfall-like plunge, CZ's crypto promises have brought a major turnaround in the market sentiment.
Last night, CZ posted on social media that he had instructed the presidential working group to advance a crypto currency strategic reserve including XRP, SOL and ADA, and later added that BTC, ETH and other tokens mentioned in the tweet also saw a surge.
As of the editorial deadline, according to Binance market data:
- BTC has risen from below $70,000 to break through $95,000, currently trading at $92,600, up 7.82% in 24 hours.
- ETH has risen from below $2,200 to break through $2,550, currently trading at $2,434, up 39% in 24 hours.
- SOL has risen from around $140 to approach $180, currently trading at $169, up 11% in 24 hours.
- XRP has risen from around $2 to approach $3, currently trading at $2.79, up 23.94% in 24 hours;
- ADA has risen from around $0.65 to break through $1.7, currently trading at $1.07, up 59.60% in 24 hours.
According to Coingecko data, the total crypto market cap has also returned to $3 trillion, currently at $3.22 trillion, up 8% in the past 24 hours.
The sudden reversal has caught many contract users off guard. The total liquidation amount in the past 12 hours has exceeded $770 million, with short positions being the majority, accounting for $520 million, and long positions accounting for $253 million.
Going forward, the crypto market trend will also enter the most critical week. Key macroeconomic data and CZ's first White House crypto summit will be released or held this week.
How will the macroeconomic week and the White House crypto summit affect the market?
This week, there are almost daily macroeconomic data and major events that will impact the crypto market.
Particularly on this Friday, CZ will host a crypto summit at the White House, in addition to the release of unemployment and non-farm payroll data.
This is CZ's first crypto summit at the White House, which will bring together well-known founders, CEOs and investors in the crypto industry, as well as members of the President's Digital Assets Working Group, to discuss regulatory policies, stablecoin regulation and the potential role of BTC in the US financial system.
CZ and the moves at this summit are expected to bring significant volatility to the crypto market.
Crypto KOL @Phyrex_Ni, who focuses on the macro market, predicts that CZ will likely talk about the issue of crypto strategic reserves at the crypto summit, with BTC definitely being the protagonist, possibly including ETH, but "US-originated" SOL, ADA and XRP may not necessarily be mentioned. In addition, stablecoins will certainly be part of the summit.
The specific list of crypto founders, CEOs and investors attending the meeting is not yet clear.
The previous guest list for CZ's inauguration ceremony and crypto ball sponsorship projects may provide some reference, including TRON, Ripple, Anchorage, Kraken, Sui, MetaMask, Galaxy, Ondo (ONDO), Solana, Etoro, Uniswap and crypto listed companies Coinbase, MicroStrategy, Marathon Digital, Nano Labs, Exodus, Metaplanet and others.
Recommended reading: 《Exclusive Unveiling of the Crypto Ball at the Presidential Inauguration - A Gathering of Political and Industry Heavyweights, Revealing the Core Influence Circle of the Crypto World》
In addition to the crypto summit this Friday, CZ is also invited to the Congress on Tuesday to deliver his first speech during his term, which will be CZ's first formal speech to Congress in his second term, whether he will mention crypto is also worth watching.
In addition, Fed Chair Powell, FOMC voters, St. Louis Fed President Mester, New York Fed President Williams and other Fed officials will make public speeches this week, and the Fed will also release the Beige Book on the economic situation, which investors need to closely monitor.
This Tuesday, the US plan to impose tariffs on Mexico and Canada will also officially take effect, but the specific tariff level has not yet been finalized. Earlier in early February, the announcement of the tariff plan caused a big plunge in the crypto market, breaking the $100,000 mark.
On the macroeconomic data front, non-farm payrolls, the ISM's February manufacturing and services activity reports, will also reflect and impact market sentiment.
According to Wind data analysis, non-farm payrolls may be a key indicator affecting the direction of US interest rates. Economists estimate that the US economy added 133,000 jobs in February, down from 143,000 in January; the unemployment rate is expected to remain unchanged at 4%, while average hourly earnings are expected to rise 0.3% month-on-month, down from 0.5% in January.
If non-farm employment increases significantly and the unemployment rate declines, it indicates a strong economy; conversely, if the data is poor, it may trigger market panic and lead to volatility in crypto prices.
Will "US Coins" become the investment theme again?
Although the market has seen significant bearish sentiment towards CZ's "call to the market", "US Coins" may once again become the investment theme.
CZ, the founder of Binance, also posted a message in the early hours of today saying that the market is clearly dominated by "US Coins".
"US Coins" can be roughly understood as crypto projects initiated by Americans in the US with a certain transaction history.
In addition to the BTC, ETH, XRP, SOL and ADA that CZ has explicitly "shilled", other "US Coins" that the crypto community users have compiled are also worth watching, such as UNI, DOGE, LINK, AVAX, XLM, SUI, HBRA, LTC, NEAR, AAVE, APT, ONDO, ALGO, RENDER, FIL and others.Recommended reading:《After Bitcoin 10w, What Coins to Buy? - Buy US Coins》
(Welcome original creators to contact for accurate source attribution)
In addition, the Trump family, the new government concept coins, and US capital coins are also worth focusing on. (Only the relevant concept coins are sorted out, no investment advice is given)
Trump Family: TRUMP official meme, DeFi project World Liberty Financial token WLFI and tokens purchased such as ONDO, ENA, ETH, LINK, AAVE, etc.
New Government Concept Coins: Musk-related concept Doge, meme coin Department Of Government Efficiency (DOGE) with the same abbreviation as the government efficiency department, PNUT; White House AI and crypto manager David Sacks-related concepts DYDX, HNS, ZRX; new SEC chairman Paul Atkins-related concept RSR.
US Capital Coins: ChainCatcher has previously compiled crypto projects associated with BlackRock and other traditional asset managers, mainly including Ondo, CRV, ENA, LINK, XLM, VELO, SUI, APT, Avax, PUFFER, etc. In addition, the tokens held by Grayscale and the Coinbase 50 index are also worth watching.
