In a surprising turn of events, America’s very own AI and crypto “Czar” David Sacks has announced a press conference, scheduled for Tuesday, February 4. The event will focus on America’s role in the digital assets industry as it moves forward. It seems the crypto market has already caught wind of this news, sparking a remarkable recovery!
Bitcoin has shot up by 7%, reclaiming its throne at $100K. Meanwhile, other altcoins, such as Ethereum (ETH), XRP, Dogecoin (DOGE), and Cardano (ADA), have experienced gains between 11-22%. Market watchers attribute this sudden surge to Sacks’ upcoming conference and the easing of Trump’s trade wars.
Crypto Market Revival: BTC, ETH, XRP, ADA Bounce Back Strong
Bitcoin Takes Charge in Market Recovery
Bitcoin has taken the lead in this market recovery, jumping over 7% and reaching a price of $102,000. The cryptocurrency’s price has been notoriously volatile, plummeting to $90,000 and then swiftly rebounding above $100K within a mere 48 hours. This recent recovery is likely due to increased demand from U.S. investors, as Sacks’ press conference approaches.
Data from CryptoQuant reveals that the Coinbase Premium Gap, a metric that measures the price difference between Bitcoin on Coinbase and other exchanges, has reached its highest level in 2025. This spike in demand from U.S.-based investors may further fuel Bitcoin’s price momentum.
Altcoins Rise After a Painful Correction
Top altcoins are making a strong comeback, with Ethereum (ETH) leading the charge with more than 12% gains in the past 24 hours, surpassing $2,800. XRP, DOGE, and ADA have also gained more than 20%, recapturing much of the ground they lost over the past week.
As Donald Trump prepares to establish a new Sovereign Wealth Fund, crypto market analysts have become increasingly optimistic about the potential inclusion of Bitcoin and Ethereum. Trump’s son, Eric, even hinted at the possibility in a recent X post: “I believe it’s a wise move to consider ETH.”
The XRP community has been advocating for the inclusion of the Ripple token in America’s crypto reserves. Ripple CEO Brad Garlinghouse suggested that a diversified basket of digital assets would be more prudent than relying solely on Bitcoin.
Market analysts predict that the altcoin season may be just around the corner, potentially triggering a massive bull run.
What Can We Anticipate from Crypto Czar David Sacks’ Conference?
David Sacks, Trump’s AI and crypto czar, will host the first press conference on Tuesday, addressing America’s role in the digital assets market. He will be joined by other U.S. Congress representatives.
Sacks is expected to discuss the White House’s strategic approach to digital assets and the overall crypto market, addressing key areas such as regulatory policies, innovation incentives, and national security concerns.
This event demonstrates the administration’s commitment to working with lawmakers to shape policies for the cryptocurrency and blockchain industries. It also highlights the administration’s proactive stance on fostering growth and innovation in the sector.
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2025-02-04 09:23