Daan Crypto Trades
Daan Crypto Trades|Mar 04, 2025 08:38
The event to watch out for will be the White House Crypto Summit this Friday. I think expectations for the summit are pretty low at this point. I would be surprised if they would actually come up with some kind of plan to buy coins (if they do, and it's not just a few hundred million likely max bid). That would basically lead people to front run them which wouldn't be a smart move for them. The most bullish thing that is still somewhat reasonable for them to mention is the capital gains tax exclusion on crypto gains, which is rumoured to potentially be announced. This would be great but also needs approval from congress to actually be implemented I think. Regardless of what happens and what might not happen, there should be some decent bid on those Strategic Reserve and US based coins on bounces. Think SOL/XRP/ADA etc. I think it would make sense to see some relief into Friday as people will start to re-allocate after the massive sell off the past ~36 hours where most coins sold off anywhere from 20-40%. Will see how it goes. If we just relentlessly sell off into the Summit, without any new headlines and stocks holding steady, I would assume something else is playing in the background which we aren't aware off. It's been clear recently that there have been insiders with all these announcements and there have been some big whale wallets on Hyperliquid which have made some questionable trades recently. Anyways, as always, we'll see what we get. I think this market is incredibly hard to trade (also considering there's participants who know more) and I'd recommend to focus on longer term trades/holds. As we can see recently, this market can move 10-50% (depending on the coin) in a day based on some headline. This makes it hard to trade around.
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