The spot price of Bitcoin (BTC) surged by 9.5% following Donald Trump’s directive to add Bitcoin and four other digital currencies including Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA) to America’s strategic reserves. This increase pushed Bitcoin’s price from around $85,000 to over $94,000. This sharp rise led to CME’s March futures contracts opening at $95,000, marking a $10,000 increase from Friday’s peak price. This price gap is the largest Bitcoin futures gap to date, surpassing the $4,000 gap record in August 2024. Market analysts suggest that such significant price gaps are usually filled as traders aim to restore market balance after intense fluctuations. Therefore, it is likely that Bitcoin’s price may retreat to the range of $84,000 to $94,000. However, as seen in previous market cycles, this retracement could take several months. Visit the digital currencies’ live price page to track all tokens and cryptocurrencies in real-time.
