Crypto euphoria swept through markets as Bitcoin smashed through the $95,000 barrier, reaching an intraday high of $95,152. The world’s largest cryptocurrency surged 10% in just 24 hours, leaving traders scrambling to catch up. CME Bitcoin March futures gapped up by a staggering $9,280. Yeah, you read that right. Nearly ten grand in one gap.
Bitcoin’s meteoric rise past $95,000 sent shockwaves through markets, with a jaw-dropping $9,280 futures gap leaving traders in the dust.
The catalyst? Trump’s announcement of a Strategic Crypto Reserve that would include Bitcoin, Ethereum, XRP, Solana, and Cardano. This endorsement at the highest level of government sent shockwaves through the crypto ecosystem. Over $300 billion was added to the total cryptocurrency market capitalization within hours of Trump’s message. The total cryptocurrency market cap jumped 7.2% to $2.3 trillion. Ethereum wasn’t left behind, climbing 6.8% to $3,400.
But the real star of the show was Cardano. ADA skyrocketed 70% from $0.57 to $1.19 after being named in Trump’s reserve plans. Talk about being in the right place at the right time. The coin blasted through the $1 psychological barrier like it was made of paper. Whale wallets loaded up, adding over 130 million ADA in recent days. Not too shabby.
On-chain data confirms this wasn’t just speculative froth. Bitcoin active addresses hit 1.2 million while Ethereum reached 800,000. Cardano’s daily transactions exploded by 200%, and its Total Value Locked (TVL) surged from $323 million to $499 million in just 24 hours. The network saw unique active wallets rise to 3,720. This increased activity demonstrates the growing adoption of Cardano’s Plutus platform for smart contracts and decentralized applications. Real people, real money.
Technical indicators are flashing warning signs, though. The RSI for Cardano has entered overbought territory. But with trading volume for BTC/USD on Binance hitting $35 billion, this train might keep rolling. Market analysis shows ADA has established strong support above $1.00, currently trading near the $1.05 level as buyers maintain momentum.
Market analysts point to a potential short squeeze if Bitcoin pushes beyond its current levels. Some projections put Bitcoin at $125,000 to $250,000 by the end of 2025. Crazy? Maybe. But in a world where government officials are talking about crypto reserves, nothing seems impossible anymore.
