Crypto Markets React To White House Summit : What’s Next ?

Political decisions shape the future of cryptocurrencies, and the crypto summit organized by the Trump administration at the White House on March 7 is a glaring proof of this. This event, which aimed to establish a new posture for the United States towards the blockchain industry, sparked mixed reactions. While some observers see it as an institutional recognition of Bitcoin and a strategic turning point, others decry it as merely a political stunt without concrete measures. This meeting, which coincided with the announcement of the creation of a strategic bitcoin reserve, had an immediate impact on the markets, leading to a 7.3 % drop in BTC and massive outflows from Bitcoin ETFs. So, real advancement or mere announcement effect?

A summit with contrasting expectations

From the opening of the summit, the Trump administration sought to distinguish itself from previous policies, which were considered hostile to the crypto ecosystem. The American president emphasized the need for a more structured integration of bitcoin within the national economy. Kyle Samani, a partner at Multicoin Capital and present at the event, described this initiative on the social media platform X (formerly Twitter) on March 8, 2025, as a “historic moment”, a first for an American administration.

However, not all sector actors shared this enthusiasm. While some institutional players saw it as a step towards broader adoption, others, like trader Miles Deutscher, nuanced the real impact of the summit. “It’s a step in the right direction, but the concrete implications remain unclear,” he stated in a post on the social media platform X (formerly Twitter) on March 8, 2025.

The main announcement of the day was the executive order signed by Trump, which established a strategic bitcoin reserve held by the state. A strong signal, but it left many investors puzzled. The administration clarified that these purchases would be made exclusively through asset seizures and neutral budget strategies, which excluded any public funding. This restriction was perceived by some as a lack of real commitment from the U.S. government towards bitcoin.

The immediate impact on the market and the criticisms from maximalists

If the announcement of a government commitment towards bitcoin could have reassured the markets, the reaction was quite different. Shortly after the signing of the executive order, BTC fell by 7.3 %, marking a significant decline after several weeks of rising. The Bitcoin ETFs recorded $370 million in outflows, a chain reaction illustrating the mistrust of investors.

These bitcoin maximalists were among the first to denounce the summit. Justin Bechler, a staunch BTC supporter, described the event on the X platform on March 6 as a “meeting of pro-regulation lobbyists”, suggesting that this initiative aimed more at imposing governmental control over the industry than supporting it. A critique shared by Nic Puckrin, founder of Coin Bureau, who joked in a post on X on March 8 that “given the market’s reaction, one might assume that no revolutionary announcement was made”.

The medium-term outlook remains uncertain. While some analysts foresee a return of BTC to $70,000 before a climb towards $100,000, others believe that the bullish momentum could fade in the face of political decisions deemed disappointing. The Trump administration now has a card to play: to transform this initial advance into concrete actions, or see the crypto market remain in wait for a real commitment from the U.S. government.