Crypto News Today, 7th March : Crypto Reserve USA, Crypto Summit, XRP News , Pi Network News

Despite U.S. President Trump’s strategic Bitcoin reserve announcement, market sentiment turned negative. Bitcoin price retraced to a $84K low intraday, dragging ETH, SOL, and XRP down by 1-6%. Meme coins traded in the red. Overall, the global market cap dropped nearly 4% to $2.88 trillion amid heavy liquidations and declining futures interest. Traders await clarity at the White House crypto summit as volatility remains high.

Bitcoin dropped 5.7% in under an hour on Thursday as investors reacted to President Trump’s executive order establishing a Strategic Bitcoin Reserve using seized assets. The move reversed a recent rally above $92,000, with traders taking profits and reassessing the market impact of the new crypto policy. This sell-off raises regulatory concerns.

US President Donald Trump signed an executive order to create a government Bitcoin reserve, marking a seismic shift in crypto policy. The reserve, intended to serve like traditional gold reserves, could stabilize national finances and clarify regulations. Critics warn the move may conflict with Bitcoin’s decentralized nature. With growing institutional interest in digital assets, market participants will closely monitor its impact on the financial system and the broader crypto ecosystem.