Bitcoin (BTC) Plummets 7% After White House Crypto Summit, Investors Disappointed?

Jakarta, Pintu News—The White House Crypto Summit on March 7, 2025, sparked mixed reactions from the crypto community. Some investors consider it a historic day for Bitcoin (BTC) and the cryptocurrency industry, while others see the event as having little impact.

Following this meeting, BTC prices plummeted 7.3%, sparking speculation that the market was experiencing a sell-the-news phenomenon. President Donald Trump’s recent policies, including an executive order to establish a strategic reserve of Bitcoin, have disappointed some investors.

Is this a sign that the peak of the Bitcoin price has been reached, or is there an opportunity for further increases?

Investors’ Mixed Reactions to the White House Crypto Summit

According to Cointelegraph, the crypto community gave mixed responses to the outcome of the White House Crypto Summit. Miles Deutscher, a well-known crypto trader, called the event a “huge boon for Bitcoin”, although many were skeptical of its impact.

Meanwhile, Kyle Samani, managing partner at Multicoin Capital, called this meeting a “historic moment” for the cryptocurrency industry. However, not everyone agreed. Coin Bureau CEO, Nic Puckrin, sarcastically said that nothing extraordinary came out of the meeting, referring to Bitcoin’s price movements that remained weak after the event.

Also read: El Salvador Buys Bitcoin (BTC) Again, Ignoring IMF Pressure!

Stinging Criticism of Trump’s Summit and Policies

Some Bitcoin maximalists expressed disappointment with this meeting. Justin Bechler, a hardline Bitcoin supporter, even called the White House Crypto Summit a meeting of “lobbyists who just want to secure regulation for their own interests.”

On the other hand, President Trump’s executive order to establish a Bitcoin strategic reserve is taking center stage. While this policy allows the US government to acquire BTC, purchases should only be made through asset seizures and strategies that do not burden the country’s budget. This disappointed many investors who had hoped that the government would actively buy Bitcoin on the open market.

Read also: Crypto Market on the Rise? These 3 Altcoins Soared in the Last Week!

Bitcoin (BTC) price falls, ETFs experience huge outflows

After the White House Crypto Summit, Bitcoin (BTC) price fell 7.3%, worsening market sentiment. Investors saw this as a sell-the-news effect, where high expectations of pro-crypto policies led to a sell-off after the official announcement.

In addition, Bitcoin exchange-traded funds (ETFs) recorded outflows of 6 trillion IDR ($370 million) following the announcement of the new policy. Many analysts believe that the US government’s move was not aggressive enough to boost demand for Bitcoin, so the market responded with a massive sell-off.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Cointelegraph. Bitcoin investors share mixed reactions to White House Crypto Summit. Accessed March 10, 2025.
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