Bitcoin surged past $92,000 in early Asian trading on Thursday, reigniting bullish momentum across the crypto market ahead of the highly anticipated White House Crypto Summit set for March 7. While major cryptocurrencies like Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) posted notable gains—some exceeding 6%—XRP remained relatively flat with only a 2.5% increase, underperforming the broader market’s upward trend.
The rally follows a volatile week marked by sharp swings triggered by former President Donald Trump’s surprise proposal to establish a strategic reserve of digital assets, including XRP, ADA, and ETH. That announcement initially sent the market soaring by 12%, but enthusiasm quickly cooled as investors awaited concrete policy details and reacted to new U.S. tariff measures that weighed on global risk assets.
Despite the pullback earlier in the week, sentiment has stabilized as traders focus on the upcoming summit—the first of its kind at the federal level—which could shape the regulatory trajectory of the U.S. crypto industry for years to come.
Market Reaction: Bitcoin Dominance Rises Amid Altcoin Caution
Bitcoin’s resurgence to near $93,000 underscores its growing dominance in the current market cycle. With BTC now accounting for over 60% of the total cryptocurrency market cap, analysts see this as a classic sign of risk-off behavior—a flight to safety amid uncertainty.
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“Bitcoin continues to flirt with the 200-day moving average,” noted FxPro senior market analyst Alex Kuptsikevich. “It briefly dipped below $83,000 earlier this week but rebounded strongly, suggesting bearish exhaustion is setting in.”
Kuptsikevich added that a move above the 50-day moving average at $97,000 would be a key indicator of sustained bullish momentum. “A return to the area above $97,000 is a marker of bullish success,” he said.
Meanwhile, Ethereum’s market share has fallen to just 9%, its lowest level in five years. This decline reflects waning investor interest in altcoins during periods of macroeconomic uncertainty and regulatory ambiguity.
XRP and BNB Lag Behind Broader Gains
While Dogecoin led gains with a 10% spike and Solana and Cardano each rose around 6%, XRP and BNB showed muted reactions, rising only 2.5%. Both assets underperformed the CoinDesk 20 (CD20) index, which gained 3.5% on the day.
This lackluster performance may reflect lingering caution among XRP holders ahead of potential regulatory developments. Despite being named in Trump’s proposed strategic reserve plan, no official confirmation or framework has been released, leaving investors skeptical about near-term catalysts.
BNB’s tepid movement could be tied to ongoing scrutiny of centralized exchange ecosystems and reduced speculative activity on Binance-linked tokens amid tightening compliance expectations.
White House Summit: High Stakes for Crypto’s Future
The upcoming White House Crypto Summit has become a focal point for global markets. Traders are watching closely for signals on regulatory clarity, potential asset classifications, tax policies, and whether the U.S. will formally adopt a digital dollar or embrace tokenized treasuries.
“Investors view this as an asymmetric event with high stakes,” said Singapore-based QCP Capital in a recent market update. “Will it serve as the unexpected catalyst that sends prices soaring, or will it expose crypto’s fragility and trigger a deeper sell-off?”
Such uncertainty is not isolated to crypto. Broader financial markets are also showing signs of stress. Corporate bond spreads are widening, with high-yield spreads now at 290 basis points above Treasuries, while investment-grade vs. high-yield spreads stand at 200 bps.
“This isn’t panic yet,” QCP cautioned, “but it’s a trend worth monitoring closely.”
Core Keywords and Market Implications
Key themes emerging from this week’s price action include Bitcoin price surge, XRP price movement, crypto market volatility, White House Crypto Summit, Ethereum market share, altcoin underperformance, strategic crypto reserve, and BTC dominance.
These keywords reflect both technical trends and macro-level developments influencing investor behavior. The concentration of capital in Bitcoin suggests a defensive posture, while declining altcoin participation hints at reduced risk appetite.
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FAQ: Understanding Today’s Crypto Moves
Q: Why did Bitcoin rise to $92K while XRP barely moved?
A: Bitcoin is seen as a safe-haven asset within crypto during uncertain times. With regulatory news pending, investors are favoring BTC over altcoins like XRP, which face greater legal and adoption risks.
Q: What could happen at the White House Crypto Summit?
A: The summit may address regulatory frameworks, clarify tax treatment, discuss CBDC development, and potentially announce plans for a strategic digital asset reserve. Clarity could boost confidence; vagueness may trigger sell-offs.
Q: Is Ethereum’s 9% market share a concern?
A: Yes. A falling ETH share often signals weak altcoin momentum. When Ethereum loses relative strength, it typically means capital is rotating into BTC or exiting the space altogether.
Q: What does BTC dominance above 60% mean for traders?
A: High BTC dominance usually precedes either a broad market rally (if altcoins follow) or a "risk-off" phase where altcoins stagnate or decline even if BTC rises.
Q: Could Trump’s strategic reserve plan affect prices?
A: If implemented, such a reserve could inject institutional demand for selected tokens like XRP and ADA. However, without legislative backing or funding details, it remains speculative.
Q: What technical levels should I watch for Bitcoin?
A: Key resistance lies at $97,000—the 50-day moving average. A breakout above could signal bullish continuation toward $100K. Support rests near $83,000; a break below may reignite bearish pressure.
Looking Ahead: Will Clarity Fuel the Next Leg?
As markets stabilize ahead of the summit, many traders are adopting a wait-and-see approach. The combination of technical rebound patterns, elevated BTC dominance, and macroeconomic caution paints a picture of a maturing asset class navigating institutional integration.
Volatility remains elevated—not just in crypto but across equities and fixed income—making risk management more critical than ever. Traders who prepare for multiple outcomes—regulatory clarity, continued ambiguity, or even surprise policy moves—will be best positioned regardless of the summit’s outcome.
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Ultimately, while short-term price movements reflect sentiment and speculation, the long-term trajectory of digital assets will depend on adoption, innovation, and regulatory acceptance. The White House summit may mark a pivotal step toward that future—one way or another.