This week in crypto, several major events are in the pipeline, with the potential to affect traders’ and investors’ portfolios. Among the top stories include the White House crypto summit, massive ecosystem-specific token unlocks, and Tron blockchain moving forward with its recent commitments.

With the following headlines primed to influence investor sentiment, traders should adjust their strategies to capitalize on the volatility.

White House Crypto Summit

Slated for Friday, March 7, US President Donald Trump’s crypto summit at the White House is the highlight of crypto news this week. The hype comes after the President’s executive order commissioning a crypto reserve featuring assets like Solana (SOL), Cardano (ADA), and Ripple’s XRP token.

The reserve also contains Bitcoin (BTC) and Ethereum (ETH), given their heft as the pioneer crypto and altcoin, respectively.

“…And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum,” read a post on Trump’s Truth Social.

Analysts at Greeks.live note the potential impact of the crypto summit on Bitcoin, given its growing reaction to macroeconomic data. Beyond this, they also cite the potential of Trump’s tariffs on Mexico and Canada, which are due for execution on Tuesday, March 4. Amidst the expected volatility, the analysts see opportunities for investors.

“The most notable event this week is the cryptocurrency summit coming up in the US on the 7th of March…Trump’s every move greatly affects the cryptocurrency market…With Trump’s tariff policy on Mexico and Canada coming into effect on Tuesday and important economic events on other days, events drive rare trading opportunities,” they wrote.

Ethena (ENA) Unlock

Also among the top crypto news items this week is the Ethena token unlock, due on March 5. On Wednesday, the Ethena network will unlock 2.07 billion ENA tokens, constituting 66.19% of its circulating supply and worth $910.15 million at current rates.

Given the typical market reaction of such events on asset prices, this event could inspire volatility for ENA. BeInCrypto recently reported that 90% of token unlocks drive prices down. Citing Keyrock Research, the report articulated how larger events cause sharper declines.

This means the Ethena token unlocks could see the ENA price drop significantly, especially if recipients quickly cash in for early gains. Other token unlocks to watch include Portal (PORTAL), AltLayer (ALT), and NFPrompt (NFP).

Pectra Upgrade Debut on Sepolia Testnet

Ethereum’s Pectra Upgrade will debut on the Sepolia Testnet on March 5. It features eight key enhancements, including wallet and staking improvements. The upgrade follows testing on the Holesky testnet on February 24.

These testnet deployments ensure stability before the mainnet implementation in April. Notably, the April launch marks a postponement after initial reports indicated a March launch. The delay comes amid a broader push for rigorous testing and coordination necessary for a smooth transition.

“EF Developer Operations Engineer Parithosh Jayanthi shared an update on the status of Pectra Devnet 6. He affirmed that the devnet is “doing well” and the validator participation rate is near perfect,” read a recent report, citing Parithosh Jayanthi, Ethereum Foundation’s Developer Operations Engineer.

Beyond the Pectra Upgrade, the Ethereum Foundation is also planning for Fusaka, which is expected to bring many enhancements to the Ethereum Virtual Machine (EVM) and increase block capacity. 

GMX Perpetual DEX Debut on Sonic

Further, crypto markets anticipate the launch of the GMX perpetual DEX (decentralized exchange) on Sonic. GMX, which boasts over $243 billion in historical volume, could launch a new Layer-1 (L1) blockchain from Fantom’s lineage, boasting 10,000 TPS on Sonic.

Currently on Arbitrum (ARB) and Avalanche (AVAX), GMX could leverage Sonic’s speed for faster, cheaper trades, tapping into a fresh ecosystem after its $1 million Hackathon. This could potentially boost GMX’s $456 million TVL (total value locked) towards rivaling peers like Hyperliquid at $642 million.

The GMX token, trading for $18.03 as of this writing, and Sonic’s S token could see speculative gains. Notably, however, the rumor remains unconfirmed.

MegaETH Testnet Launch

Additionally, MegaETH, an Ethereum Layer-2 network, aims to redefine blockchain performance with 100,000 TPS and sub-10ms block times. It targets real-time use cases like blockchain gaming and high-frequency trading.

Backed by $30 million from Vitalik Buterin, Dragonfly Capital, and others, MegaETH’s EVM-compatible platform promises seamless app integration. The testnet, kicking off in two days, will not be incentivized per X posts, but it is a chance to preview its tech—think Netflix-like speed on-chain.

“MegaETH has made know that their testnet would not be Incentivized,” a user on X indicated.

The mainnet is slated for late 2025, and no confirmed token launch has yet been announced, though speculation swirls about crypto airdrops. MegaETH could juice Ethereum’s ecosystem for markets, boosting ETH if adoption spikes, but its centralized sequencer raises decentralization concerns.

Tron Gas-Free Transactions for USDT

Another highlight this week is Tron blockchain’s planned gas-free transactions for USDT stablecoin. Once praised for cheap USDT transfers, Tron has seen fees soar to $3.20-$6.50 per TRC-20 USDT transaction, outpacing Ethereum’s $0.40 ERC-20 fees.

This shift eroded its cost edge, prompting founder Justin Sun to announce a “Gas Free” feature that would roll out within a week of February 25.

“Tron’s Gas Free feature supporting USDT gas payments without the need for TRX will launch within the next week,” Sun shared on X.

This means users can send USDT without needing TRX for fees, simplifying the process. Tron handles over $60 billion in USDT—51% of its supply—making this significant. It aims to reclaim affordability, boost adoption, and ease stablecoin use for big firms. Fees spiked to $9 in late 2024, so this could revive Tron’s appeal.

Bitcoin price started a fresh increase from the $78,000 support zone. BTC must clear $95,000 to continue higher in the near term.

• Bitcoin started a fresh increase above the $90,000 resistance zone.
• The price is trading above $92,000 and the 100 hourly Simple moving average.
• There is a connecting bullish trend line forming with support at $89,750 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another decline if it fails to stay above the $87,000 zone.

Bitcoin Price Rallies Over 10K

Bitcoin price extended losses below the $80,000 level before the bulls appeared. BTC traded as low as $78,011 and recently started a strong increase. There was a move above the $85,000 and $88,000 resistance levels.

The price surged over 10% and cleared the $90,000 level. It tested the $95,000 resistance. A high was formed at $95,000 and the price is now consolidating gains. It is trading near the 23.6% Fib retracement level of the upward move from the $84,500 swing low to the $95,000 high.

Bitcoin price is now trading above $92,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $89,750 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $94,000 level. The first key resistance is near the $95,000 level.

The next key resistance could be $96,500. A close above the $96,500 resistance might send the price further higher. In the stated case, the price could rise and test the $98,500 resistance level. Any more gains might send the price toward the $100,000 level or even $100,500.

Are Dips Supported In BTC?

If Bitcoin fails to rise above the $95,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $92,000 level. The first major support is near the $90,000 level.

The next support is now near the $88,500 zone and the 50% Fib retracement level of the upward move from the $84,500 swing low to the $95,000 high. Any more losses might send the price toward the $87,000 support in the near term. The main support sits at $85,500.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $92,000, followed by $90,000.

Major Resistance Levels – $94,000 and $95,000.

Bitcoin has surged 8% in the last 24 hours, recovering from last month’s losses. Now trading at $93,202, it is attempting to establish $93,625 as support. This sharp rebound has reignited bullish sentiment, but caution is advised. 

While Bitcoin gains strength, traders and market trends remain at odds, increasing volatility risks.  

Bitcoin Sentiment-Driven Trades Are Risky

Santiment data highlights a recurring trend—traders often misjudge Bitcoin’s price movements. When traders expect a rally, the market tends to decline. Conversely, when they anticipate a drop, Bitcoin often surprises with an uptrend. This pattern suggests the market’s unpredictability remains high, making sentiment-driven trades risky.  

Investors should closely monitor volatility as Bitcoin aims to break $100,000. Historically, contrarian strategies have worked better than following trader sentiment. With uncertainty prevailing, market participants may consider doing the opposite of prevailing opinions to navigate the current conditions effectively.  

Bitcoin’s dominance at 60.74% is forming a fractal similar to 2020-2021, when it surged sharply before declining. A similar trend is emerging, suggesting historical patterns could repeat. Bitcoin’s price has, on a few occasions, shown signs of recovery during periods of declining dominance, though the strength and sustainability of such moves depend on broader market conditions.

As dominance declines, altcoins gain traction, but Bitcoin often benefits in the long run. The current market structure reflects a transition phase, where BTC could see further upside. If this fractal holds, Bitcoin’s recent price surge may continue, reinforcing positive momentum.  

BTC Price Needs To Secure Support

Bitcoin’s 8% rise has pushed its price to $93,202. If BTC holds $93,625 as support, a further upside of $97,696 becomes likely. Securing this level would enhance bullish momentum, reinforcing Bitcoin’s recovery.  

Flipping the 50-day EMA into support is critical for sustaining gains. This move would erase February’s losses and establish a foundation for further appreciation. Maintaining this trajectory could position Bitcoin for a retest of higher resistance zones.  

However, failure to hold above $95,761 could invalidate bullish momentum, leading to a drop toward $92,005. Losing this key level may trigger additional declines, weakening Bitcoin’s upward trajectory.