Trump’s Crypto Reserve Post Sparks Volatility as Bitcoin Slips Below $90K

A social media post from President Trump ignited a frenzy in crypto markets on Sunday, but the rally is already losing steam as Monday trading unfolds.

Bitcoin (BTC) surged to $95,000 following Trump’s announcement about a potential U.S. crypto reserve that would include BTC, ETH, SOL, XRP, and ADA. However, as of Monday morning, BTC has pulled back to $89,500, shedding about 5% in the past hour. While still up from its pre-announcement price of $85,000, the momentum appears to be fading.

The altcoins mentioned by Trump remain in positive territory but have also retraced a large portion of their gains. Traders are now weighing the long-term impact of the announcement versus the short-term hype.

BitMEX founder Arthur Hayes dismissed the excitement, stating, “Nothing concrete yet. Until they get Congressional approval or revalue gold higher, there’s no real money to buy crypto.”

Lekker Capital CIO Quinn Thompson, known for his skeptical stance on crypto, was even more critical. “If you think this is a win for the industry, think again. This administration just legitimized two of the most questionable projects in crypto history. Either they don’t understand what they’re doing, or they’re being influenced by the wrong people.”

Thompson also warned traders, adding, “This feels like yet another ‘sell the news’ moment—Trump’s team just handed traders their next exit opportunity.”

The sell-off isn’t limited to digital assets. Crypto-related stocks, including Coinbase (COIN), Strategy (MSTR), Semler Scientific (SMLR), and Hut 8 (HUT), all spiked at the open but are now giving up gains.