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Bitcoin Tests $90K on Speculation of Trump’s Crypto Reserve Plan

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1 month ago

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Bitcoin (BTC) surged past the $90,000 mark following reports of its potential preferential treatment in President Donald Trump’s proposed US crypto reserve strategy.

The speculation comes ahead of the White House Crypto Summit, which Trump will host and feature top digital asset industry executives.

Trump’s Bitcoin Reserve Plan Unveiled

Citing Commerce Secretary Howard Lutnick, The Pavlovick Today revealed that the strategic cryptocurrency reserve would be on Friday’s agenda for President Trump’s White House Crypto Summit.  

“The President definitely thinks that there’s a Bitcoin strategic reserve. Now there will be the question of, how do we handle the other cryptocurrencies? And I think the model is going to be announced on Friday,” Lutnick reportedly stated.

Reportedly, Trump envisions a strategic Bitcoin reserve, distinguishing it from other cryptocurrencies. Lutnick suggested Bitcoin would receive unique status under Trump’s plans.

“So Bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently—positively, but differently,” he added.

Following this news, Bitcoin reclaimed the $90,000 psychological level, with BTC trading for $90,097 as of this writing. According to BeInCrypto data, this represents a surge of over 7% since Wednesday’s session opened.

BTC Price Performance
BTC Price Performance. Source: BeInCrypto

The prospective preferential treatment for Bitcoin is unsurprising given its heft as the pioneer crypto. Similarly, its commodity status, like Ethereum (ETH), also positions it for possible privilege.

While Trump has positioned himself as an outspoken advocate for the digital asset industry, he was more inclined toward the king of crypto ahead of the Bitcoin conference in July 2024.  

In a recent Truth Social post, he emphasized his administration’s commitment to elevating the crypto sector. Specifically, Trump announced that the US crypto reserve would include XRP, SOL, and ADA alongside Bitcoin and Ethereum.

However, Lutnick’s comments suggest that Bitcoin may receive special status under the new framework. While Trump’s announcement has fueled bullish sentiment in the Bitcoin market, it has also sparked significant debate.

Some crypto leaders have expressed skepticism about including alternative cryptocurrencies (altcoins) in the US reserve. Critics argue that favoring Bitcoin while treating other tokens differently could create market distortions.

Peter Schiff, a longtime Bitcoin critic, called Trump’s crypto reserve plan “the biggest crypto rug pull of all time.” Meanwhile, other experts had previously predicted that additional altcoins could be incorporated into the reserve, a forecast now challenged by Lutnick’s latest statements.

Another major talking point is Ethereum’s role—or lack thereof—in the prospective crypto reserve strategy. The White House Crypto Summit will feature leaders from ecosystems running on Ethereum, but the blockchain lacks representation.

Notwithstanding, the announcement of a strategic crypto reserve has led to speculation about an incoming altseason. Tim Haldorsson, founder of Luna Strategy, told BeInCrypto that Trump’s plan could drive increased investment into altcoins.

However, Henrik Zeberg Jensen, the head of Macroeconomics and fund manager of Swissblock Technologies AG, has a different opinion.

“Trump does not stand as a testimony to or a proof of which tokens will have success. Look at his meme coin [TRUMP]! No usability- and driven by speculation. The success of any token in the long run will be based on the usability of the token in future solutions which will lift productivity and reduce cost. Trump’s picks in that respect seem arbitrary,” Zeberg told BeInCrypto.

Should Bitcoin get preferential treatment in the crypto reserve, altcoins could still benefit. Historically, Bitcoin-led rallies have often paved the way for altcoin surges.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.



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Dogecoin (DOGE) Reclaims Previous Breakdown, Will This Mark The Bottom?

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4 hours ago

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April 10, 2025

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After a long-running streak of breaking down from support levels, Dogecoin (DOGE) is set to reverse the trend. Recent Dogecoin price action reveals that the bottom is in for the memecoin amid growing chatter for a strong rally.

Dogecoin Price Reclaims Breakdown Signaling The Bottom

Cryptocurrency analyst Trader Tardigrade says recent Dogecoin price action indicates a positive trend reversal following multiple support breakdowns. In his analysis on X, Tardigrade notes that DOGE has reclaimed a previous price breakdown at $0.15300 after a small rally.

After prices dipped below the support level, DOGE quickly recovered, powered by a rally that saw the asset record double-digit gains over the last day. Tardigrade notes that reclaiming the breakdown signals the end of a long-drawn price decline for Dogecoin.

Since the start of the year, the Dogecoin price has been in steep decline, recording three steep price breakdowns without an attempt to reclaim support levels.

dogecoin reclaims price breakdowndogecoin reclaims price breakdown

“Dogecoin has successfully reclaimed its previous breakdown, marking the first time since the downtrend began in January 2025,” said Tardigrade. “This price action suggests that Doge is gaining strength and may have already reached its bottom.”

The claims that Dogecoin bottom has gathered steam with crypto analyst Master Kenobi predicting that DOGE price will bounce back. Master Kenobi goes on to predict a new all-time high for DOGE in early June, confirming the bottom as well.

Fundamentals Stoke Support For DOGE Bottom Claims

Apart from technicals, certain fundamentals suggest that the bottom is in for the Dogecoin price. 21Shares’ filing for a spot Dogecoin ETF is fuelling a small rally for the dog-themed meme coin.

A previous collaboration between 21Shares and House of Doge for a Dogecoin ETP on the SIX Swiss Exchange is a tailwind for the asset. DOGE has survived the scare stemming from Elon Musk’s imminent departure from DOGE as it eyes the $1 mark.

However, DOGE will have to contend with heavy selling pressure from whales and the broader macroeconomic pressures impacting the cryptocurrency markets to avoid slipping below the support level again.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ethereum’s Controversial Developer Freed Before Full Sentence

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6 hours ago

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April 10, 2025

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Virgil Griffith, a former Ethereum developer who worked on the Ethereum Name Service (ENS), has been released from prison on parole and relocated to a halfway house.

Updates posted on X on Wednesday, April 9, 2025, disclosed that Griffith is now starting his return to civilian life after serving some of his sentence for violating US sanctions.

Ethereum Developer’s Prison Release Confirmed By Sources

Brantly Milegan, executive director of Ethereum Identity Foundation, broke the news with a photo of Griffith and his parents outside the prison. Alexander Urbelis, ENS general counsel and part of Griffith’s legal team, confirmed his release from FCI Milan in Michigan.

Griffith was arrested in November 2019 after speaking at a cryptocurrency conference in North Korea. Prosecutors claimed his presentation provided information that could help North Korea evade sanctions and launder money.

From 63 Months To 56: The Sentence Journey

In 2022, Griffith was sentenced to 63 months in prison and meted a fine of $100,000 after pleading guilty to the International Emergency Economic Powers Act. In July 2024, US District Judge Kevin Castel lowered his sentence to 56 months, citing him as a first-time offender.

ETHUSD trading at $1,598 on the daily chart: TradingView.com

Crypto Return Faces Serious Hurdles

Griffith himself starts a several-year probation term. His attorneys are fighting to transfer him from the halfway house to home confinement, but returning to regular life is hindered.

The Department of Commerce placed severe export restrictions on Virgil that will extend until 2032, Urbelis explained. These limits could block his return to the cryptocurrency field.

Presidential Pardon Possibility Under Trump Administration

Before joining Ethereum, Griffith earned a Ph.D. from Caltech and created WikiScanner, a tool tracking anonymous Wikipedia edits. He also worked with Aaron Swartz on Tor2web.

According to Urbelis, Griffith is seeking a pardon from US President Donald Trump. Trump has previously granted clemency to others in crypto-related cases, including Ross Ulbricht and Arthur Hayes.

The case has triggered debate about sharing open-source information versus helping sanctioned nations. Ethereum co-founder Vitalik Buterin has supported Griffith, even signing a petition calling for his release in 2023.

Featured image from Thiessen Law Firm, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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Binance Lists BABY As Bitcoin Protocol Babylon Goes Live

Published

8 hours ago

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April 10, 2025

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Cryptocurrency exchange Binance has revealed the listing of BABY, the native token of the Babylon Genesis blockchain. The listing comes as the Babylon Foundation finished its airdrop of 600 million BABY tokens to early adopters and contributors to the ecosystem.

Babylon Genesis Launches As First Bitcoin-Secured L1 Blockchain

The Babylon Genesis blockchain has officially gone live. The project has described itself as the launch of “the world’s first L1 blockchain secured by Bitcoin.” According to an X post by the Babylon team, this launch establishes the Babylon Bitcoin staking protocol as a “foundational infrastructure layer for Bitcoin.”

The project brings with it a fresh paradigm to securing blockchains as it employs Bitcoin as the Layer-1 blockchain’s security mechanism. In the system, the holders of Bitcoin are able to stake their BTC in order to secure the Babylon network and, as a reward, receive BABY tokens.

Babylon’s mission is to realize the maximum utility of Bitcoin by reconditioning “idle Bitcoin to be the foundation of the decentralized economy.” Such an approach helps fix Bitcoin’s lack of programmability without violating its security paradigm by using the staking protocol.

BABY Token Airdrop Successfully Launched

Babylon Foundation reported the completion of its airdrop of BABY tokens to early entrants in its ecosystem. According to official information, the airdrop distributed 600 million BABY tokens. This accounts for 6% of the total supply of 10 billion tokens.

In their announcement tweet, the foundation stated: “Dear Babylonian, the Babylon Foundation is happy to announce that the airdrop has just been successfully executed! You should be able to see your BABY in your wallet very soon.”

The foundation confirmed that there are no transfer restrictions on the airdropped tokens. This gives recipients immediate freedom to trade or use their BABY holdings. Recipients also have the option to stake their BABY tokens to secure the Babylon Genesis network and earn additional tokens as staking rewards.

The airdrop acts as a reward mechanism for early adopters and as a way to distribute governance rights.

Binance Listing Details And Token Information

Binance’s listing of the BABY token provides immediate liquidity for airdrop recipients and other BABY holders. According to the exchange’s announcement, trading for BABY began on April 10, 2025, at 10:00 UTC. The tokens are available to trade against five different currencies: USDT, USDC, BNB, FDUSD, and TRY.

The leading crypto exchange has applied the “seed tag” to BABY. This generally indicates to traders that the token is in early stages and may carry additional investment risks. Deposits for the token will be enabled six hours after Binance’s announcement. This allows users time to prepare for trading. The exchange’s announcement comes after it unveiled its decision to delist 7 crypto pairs.

The total supply of BABY tokens is set at 10 billion, with the recent airdrop distributing 600 million tokens or 6% of this total supply. This distribution approach aims to establish a broad base of token holders who can participate in the network’s governance from its early stages. According to CoinMarketCap data, Babylon is trading at $0.1032 with a market cap of $234 million.

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Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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