Ride the Waves to Play This Mad Market

Dear Subscriber,

This week reminded us that, even in a neutral market, crypto remains sensitive to hype and headlines.

Which can cause market volatility that can help or hinder your crypto goals, depending on how fast you can react.

Take, for example, the spike we saw in Bitcoin (BTC, “A”) and leading altcoins early this week.

Between Sunday and Monday, Bitcoin's price surged approximately 10% to around $95,000 …

Ethereum (ETH, “B+”) saw a 12% increase …

And Solana (SOL, “B”), XRP (XRP, “B-”) and Cardano (ADA, “B+”) experienced even more substantial gains of 20%, 30% and over 50%, respectively.

That mini-rally was in response to a post where President Trump Announced a Historic Crypto Strategic Reserve.

As Marija Matić explained in her update on Monday, this was the first time Trump has specified his support for a crypto "reserve," rather than a "stockpile."

What’s the difference?

Well, a reserve assumes actively buying crypto in regular installments, which would drive significant demand and push prices higher. But a stockpile might mean simply not selling any of the crypto already seized and held by the U.S. government.

No wonder investors got excited!

But there are still several uncertainties regarding this reserve. The Trump administration first needs to determine the legal authority required to establish the reserve … and then questions of how it will be funded need to be addressed.

Without additional clarity, this week’s early gains were quickly given back.

Hopefully, today’s White House Crypto Summit will be the first step in getting clarification on those matters. In fact, in his update on Wednesday, Mark Gough revealed What You Need to Know Ahead of the White House Crypto Summit.

He broke down all the major players and how they set the agenda. But you’ll have to check in with us next week for our breakdown of how this summit played out for real … and what we can expect from the next steps.

One thing we can say is that this administration seems to have a focus on “U.S.-based” cryptos. While cryptocurrencies are, by nature, borderless, the teams or companies behind them can be localized in a specific country.

And with the exception of BTC and ETH — the two largest cryptos by market cap — all the coins slated for inclusion in the reserve have U.S.-based teams.

Small-cap expert Dr. Bruce says he expects American coins to see a boon if this reserve goes through. And not just SOL, XRP and ADA. He sees an opportunity for you to Invest in a Crypto Made in the USA that has even more growth potential.

But headlines aren’t the only things driving the crypto market. Developments in the web3 space may be on the verge of creating new opportunities, as well.

And according to tech expert Jurica Dujmovic, The Leader of the Web3 Revolution … Is TikTok?

It may sound unbelievable, and it is still a long way off. But there is a bid by Reddit cofounder Alexis Ohanian to acquire TikTok’s U.S. operations … and create the first mainstream web3 social media platform.

In essence, that would mean content created on the app — videos, trends, dance choreography, music, etc. — is owned by the creators, not the app itself.

While there are roadblocks ahead for Ohanian, Jurica explains that ByteDance, TikTok’s parent company, has more than a few reasons to consider the proposal.

That means opportunity not just for creators to better monetize their online content … but also for investors who back the blockchains best positioned to bring their tech to TikTok. And potentially other platforms in time.

Before I wrap up, I want to remind you that we are just over a month away from April 15 — the deadline to file your taxes in the U.S.

This process, already a headache, can get complicated quick when you add crypto to the mix. Which is why I broke down 5 Ways Your 2024 Crypto Moves Could Be Taxed . I explain the most common taxable events in crypto … and reveal a few tools to help make your future filings a little easier.

But that’s all for this week. Be sure to check in tomorrow for your next Weiss Crypto Daily update.

Best,

Beth Canova
Crypto Managing Editor