US President Trump announced last night that he will advance a cryptocurrency strategic reserve plan that includes SOL, XRP, ADA and ETH, excluding BTC. The news caused a violent fluctuation in the Bit market and led to the largest gap in CME Bit Futures history, exceeding $10,000.
According to TradingView data, after Trump's announcement, the spot market immediately saw an influx of over $300 billion, driving the Bit price from $85,000 to nearly $95,000 within a few hours, and causing a huge $10,000 gap in the CME futures. This record far exceeds the previous high of $4,000 in August 2024.
Crypto analyst Joe McCann pointed out:
· This CME gap is far beyond previous records and may become a key technical indicator for future price corrections.
Why is the Bit CME Futures gap important?
The CME Futures gap refers to the fact that the Bit market continued to trade after the Chicago Mercantile Exchange (CME) closed on Friday, resulting in a difference between the opening price on Sunday (7am Beijing time on Monday) and the closing price last Friday.
Traders generally believe that these gaps have the opportunity to be "filled" in the future, meaning that the Bit price may fall back to the $85,000 range. Analyst Rekt Capital said:
· Bit successfully filled two CME gaps within a week.
· But in the process, Bit also created a huge new CME gap between $84,650 and $94,000.
However, according to past market cycles, these large-scale gaps may take months to fill and will not happen so quickly. Crypto KOL Sommi also pointed out:
The two big gaps that appeared in the 2021 bull market cycle were only filled during the bear market.
Hope for Altcoin Reserves?
On the other hand, Trump's hint at Altcoin reserve decisions besides Bit has sparked different voices in the market, with many Bit supporters believing that the strategic reserve should focus on Bit rather than including other crypto assets.
Casa CEO Nick Neuman further emphasized:
· The only reasonable crypto asset for national reserves is Bit, as limitless digital assets, especially those with no utility, should not be considered.
Some market observers believe that the reserve plan may ultimately revert to a "Bit-first" strategy. Riot Platforms Vice President Pierre Rochard said:
· The crypto strategic reserve will ultimately become just Bit holdings, as the value of other Altcoins will ultimately approach zero.
The White House will hold the first "Cryptocurrency Summit" on March 7
Trump will host the White House's first Cryptocurrency Summit on the 7th, where he will deliver a speech, and attendees will include well-known founders, CEOs and investors from the crypto industry, as well as members of the President's Digital Assets Working Group.
This first "Cryptocurrency Summit" to be held by the White House on March 7 will be hosted by the White House's AI and Crypto Czar David Sacks, and administratively managed by Bo Hines, the Executive Director of the President's Digital Assets Working Group, who may provide further details on the reserve plan.
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