Bitcoin (BTC) Drops 9% After Donald Trump Pushes for National Crypto Reserve

With Bitcoin experienced a 9% drop following Donald Trump’s recent push for a national crypto reserve, which initially focused on XRP

Donald Trump's push for a national crypto reserve has sparked debates about the future of crypto assets in the U.S. As the White House Crypto Summit approaches on March 7th, veteran crypto analysts Capo Of Crypto have seen an opportunity for specific altcoins.

Trump administration officials reportedly confirmed that U.S.-based cryptocurrencies would be exempt from capital gains tax, while foreign crypto projects could face a 30% tax.

If such a policy is implemented, it could boost the prices of key U.S.-linked cryptos.

Among the altcoins that Capo has recently added to his portfolio ahead of a potential market shift, and which could benefit from the summit's outcomes, are:

NEAR Protocol (NEAR): A scalable blockchain with strong U.S. ties and a promising technical setup. Currently, NEAR is down 14% from yesterday's high.

Render (RENDER): A project focusing on AI and 3D rendering with a strong U.S. presence. With a market cap of $1.82 billion, Render token has seen a 15% drop making it an attractive token to buy at discounted prices.

Constellation (DAG): A low-cap token with government connections that could see increased demand. After seeing continued downward pressure DAG is forming a solid bullish pattern, looking to break the $0.050 resistance.

ENA (Ethena): A rising altcoin that has caught attention due to its potential growth in the market. Right now, ENA is trading at $0.35, down 16%, with a market cap of $1.12 billion.

Solana (SOL): Since Trump's Crypto Reserve includes Solana, its price reaction will be interesting to observe. Currently, SOL is trading at $137.

With the March 7th summit approaching, these altcoins could experience significant price fluctuations, especially if new crypto-friendly rules are announced.