Crypto traders’ optimism over Trump’s statements fades, Bitcoin loses value — experts

MOSCOW, March 4. /TASS/. Investor enthusiasm regarding US President Donald Trump’s proposal to establish a strategic crypto reserve has significantly waned, with digital asset traders increasingly skeptical about the plan’s feasibility. This fading confidence may have contributed to Bitcoin’s recent price decline, according to experts interviewed by TASS.
Over the past 24 hours, Bitcoin has plunged by more than 11%, trading at $83,300, based on data from Binance.
"By Tuesday, Bitcoin’s value had fallen below pre-growth levels from Sunday. The initial euphoria surrounding Trump’s announcement of a US crypto reserve has now given way to the confidence in the plan’s execution eroding. Investors have grown accustomed to capitalizing on Trump’s market-moving statements, often without seeing the anticipated ‘follow-through,’" Alexander Potavin, analyst at Finam Group, said.
According to the expert, digital currencies have been experiencing a downward trend since mid-January, largely due to disappointment over Trump’s unfulfilled promises to ease crypto regulations. "Several major investors remain unconvinced about the viability of a strategic US crypto reserve. As a result, many market participants opted to offload cryptocurrency during the recent price surge," he added.
Meanwhile, financial analyst at BitRiver Vladislav Antonov identified the downturn in US stock markets as an additional factor exerting pressure on the crypto sector. He noted that the S&P 500 index declined, while Nvidia’s shares plummeted, triggering a broader flight from risk assets, which inevitably impacted cryptocurrencies.
Similarly, head of exchange trading at Whitebird Ilya Sivoplyas believes that under current market conditions, even Trump’s statements regarding crypto reserves are unlikely to trigger a sustained rally in risk assets such as cryptocurrency, especially against the backdrop of economic uncertainty.
Bitcoin’s next move
Experts at BitRiver anticipate that the market downturn will likely find support around $80,000, setting the stage for a potential reversal.
However, Finam Group analysts highlight $78,500 as the next critical support level, with stronger foundational support at $75,000.
Meanwhile, Whitebird maintains that if market conditions stabilize and greater clarity emerges, Bitcoin’s bullish rally could resume.