Written by: Babywhale, Techub News

Last night, US President Trump expressed his support for the cryptocurrency market on Truth Social, the social media under him.

Trump said in his first update, "After Biden's years of corruption attacks, the US cryptocurrency reserves will enhance the status of this key industry, which is why my digital assets executive order directs the Presidential Working Group to advance its strategic reserves of cryptocurrencies including XRP, SOL and ADA. I will ensure that the United States becomes the cryptocurrency capital of the world. We are making the United States great again!"

Trump then again stated that like other valuable cryptocurrencies, Bitcoin and Ethereum will also be the core of the reserves, and I love Bitcoin and Ethereum!

After looking through the presidential executive order page on the official White House website, the author can almost confirm that this "news" that caused the short-term surge in assets mentioned by Trump is actually "old news".

As shown from the relevant page of the White House website, Trump has not signed a new executive order on cryptocurrency. The cryptocurrency reserves mentioned on social media are actually the digital asset reserves mentioned in the "Strengthening the United States' Leadership in the Field of Digital Financial Technology" signed in January. This time, Trump has clarified the assets that the reserves may contain: Bitcoin, Ethereum, SOL, XRP, ADA.

In other words, Trump may just be cheering up the recent downturn in cryptocurrency market. His so-called "promotion" work is actually always carried out after signing the executive order, rather than some "new progress". It is worth noting that the signed executive order clearly mentioned that the way to establish cryptocurrency reserves is to retain cryptocurrencies legally seized through law enforcement actions, and whether there are other ways, the current US president has not yet stated.

In the current cryptocurrency market, whenever keywords such as "Trump", "cryptocurrency" and "Bitcoin" appear at the same time, it will always cause considerable market fluctuations. A few days ago, Bitcoin fell below $80,000 due to the imminent implementation of Trump's tariffs. At the time of writing, according to the OKX market, the price of Bitcoin has rebounded to above $92,000.

A closer look at untenable positive news can make the price of Bitcoin rise by nearly 10% in the short term. It can only be said that the market is looking forward to good news too much. But in the face of a capricious president like Trump and the emergence of no new positive news in the cryptocurrency market that can influence the "war situation", the sustainability of this violent rebound caused by "old news" is still doubtful.

Of course, the power of emotions in the financial market cannot be underestimated, but when the price of an asset isWhen the emotions stimulated by the news rather than the new price increase in the assets themselves, investors should pay more attention to controlling risks. Bitcoin’s rise in the past two years has also been based on the stable rise in the prices of risky assets represented by US stocks. If this foundation is no longer available, capital with a keen sense of smell may not choose to fight.